But your great comfort is, that as His Majesty's patent does not oblige
you to take this money, so the laws have not given the crown a power of
forcing the subjects to take what money the King pleases: For then by
the same reason we might be bound to take pebble-stones or cockle-shells
or stamped leather for current coin, if ever we should happen to live
under an ill prince, who might likewise by the same power make a guinea
pass for ten pounds, a shilling for twenty shillings, and so on, by
which he would in a short time get all the silver and gold of the
kingdom into his own hands, and leave us nothing but brass or leather or
what he pleased. Neither is anything reckoned more cruel or oppressive
in the French government than their common practice of calling in all
their money after they have sunk it very low, and then coining it anew
at a much higher value, which however is not the thousandth part so
wicked as this abominable project of Mr. Wood. For the French give their
subjects silver for silver and gold for gold, but this fellow will not
so much as give us good brass or copper for our gold and silver, nor
even a twelfth part of their worth.
Having said thus much, I will now go on to tell you the judgments of
some great lawyers in this matter, whom I fee'd on purpose for your
sakes, and got their opinions under their hands, that I might be sure I
went upon good grounds.
A famous law-book, called "The Mirror of Justice,"[24] discoursing of
the articles (or laws) ordained by our ancient kings declares the law to
be as follows: "It was ordained that no king of this realm should
change, impair or amend the money or make any other money than of gold
or silver without the assent of all the counties," that is, as my Lord
Coke says,[25] without the assent of Parliament.
[Footnote 24: This was an important legal treatise often quoted by Coke.
Its full title is: "The Booke called, The Mirrour of Justices: Made by
Andrew Home. With the book, called, The Diversity of Courts, And Their
Jurisdictions ... London ... 1646." The French edition was printed in
1642 with the title, "La somme appelle Mirroir des Justices: vel
speculum Justiciariorum, Factum per Andream Home." Coke quotes it from a
manuscript, as he died before it was printed. [T.S.]]
[Footnote 25: 2 Inst. 576. [ORIG. ED.]]
Public-domain text, read in full here on John Shaqi.
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