The History of Currency, 1252 to 1896Shaw, William Arthur
History
The History of Currency, 1252 to 1896
Shaw, William Arthur
Money -- History
3. That the gold of England being so good and heavy, and that beyond sea
so light, the _nobles_ which came from Calais were gone into Flanders,
and the English _nobles_ were carried beyond the sea, to the great
profit of those who exported them, etc. etc.
4. That the money of gold and silver of England was commonly clipped, so
that they who thought they should have £100 would have no more than £90,
unless a remedy were speedily applied.
The officers of the Mint were accordingly ordered to be called before
the Lords of the Parliament for examination, and they were succeeded by
others, private persons but mostly goldsmiths, who were called upon as
experts. In the case of these latter the various statements of opinion
are preserved for us in the Rolls of Parliament, and they possess a
peculiar interest.
Richard Leye thought that the reason why no gold or silver was brought
into England, but, on the contrary, that which had been in the kingdom
was exported, was this, that the realm expended too much on merchandise,
such as grocery, mercery, furs, etc. He therefore proposed that every
merchant who imported goods into England should export an equal quantity
of the produce of the realm, and that no one should take out gold or
silver, contrary to the statutes.
As to the gold not agreeing with the silver (which was Article IV. of
the inquiry), he thought that could not be remedied, unless the money
were changed, and to change it in any manner would be productive of
universal injury to Lords, Commons, etc.
To Article V. he advised that, whereas new money had been made in
Flanders and in Scotland, proclamation be made that all manner of coins
of Flanders, Scotland, and of all other places beyond the seas, should
be no longer current in England, and that no one should receive them in
payment except as bullion to be carried to the King's Mint.
Lincoln, a goldsmith, gave his opinion similarly against the permission
to export gold and silver, and proposed that the gold noble should
remain of the same weight as it had been, but at a greater value.
To the First Article Cranten said, that no more in value of foreign
merchandise should be consumed within the realm than should be exported
of commodities, the growth of England; and then, whether the money were
enhanced or debased, it would hereafter remain within the realm. Also,
that exchanges or other payments by letters should not be made out of
Flanders, or other parts beyond the seas, to pay in England for any
merchandise.
John Hoo advised a proclamation against the carrying out of gold or
silver, and that the money should be received by weight.
Public-domain text, read in full here on John Shaqi.
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