By another act in this King's reign[31] black money was not to be
current in England, and by an act made in the eleventh year of his reign
chap. 5. galley halfpence were not to pass, what kind of coin these were
I do not know, but I presume they were made of base metal, and that
these acts were no new laws, but farther declarations of the old laws
relating to the coin.
[Footnote 31: The act against black money was passed in Henry IV.'s
reign not Edward III.'s. The "galley halfpence" were dealt with by 9
Hen. IV., cap. 4. [T.S.]]
Thus the law stands in relation to coin, nor is there any example to the
contrary, except one in Davis's Reports,[32] who tells us that in the
time of Tyrone's rebellion Queen Elizabeth ordered money of mixed metal
to be coined in the Tower of London, and sent over hither for payment of
the army, obliging all people to receive it and commanding that all
silver money should be taken only as bullion, that is, for as much as it
weighed. Davis tells us several particulars in this matter too long here
to trouble you with, and that the privy-council of this kingdom obliged
a merchant in England to receive this mixed money for goods transmitted
hither.[33]
[Footnote 32: This refers to Sir John Davies's "Abridgement of Sir
Edward Coke's Reports," first published in 1651. Davies was
Attorney-General for Ireland and a poet. His works have been collected
and edited by Dr. A.B. Grosart in the Fuller Worthies Library. [T.S.]]
[Footnote 33: Charles I., during the Civil War, paid his forces with
debased coin struck by him. [T.S.]]
But this proceeding is rejected by all the best lawyers as contrary to
law, the Privy-council here having no such power. And besides it is to
be considered, that the Queen was then under great difficulties by a
rebellion in this kingdom assisted from Spain, and whatever is done in
great exigences and dangerous times should never be an example to
proceed by in seasons of peace and quietness.
I will now, my dear friends to save you the trouble, set before you in
short, what the law obliges you to do, and what it does not oblige you
to.
First, You are obliged to take all money in payments which is coined by
the King and is of the English standard or weight, provided it be of
gold or silver.
Secondly, You are not obliged to take any money which is not of gold or
silver, no not the halfpence, or farthings of England, or of any other
country, and it is only for convenience, or ease, that you are content
to take them, because the custom of coining silver halfpence and
farthings hath long been left off, I will suppose on account of their
being subject to be lost.
Thirdly, Much less are you obliged to take those vile halfpence of that
same Wood, by which you must lose almost eleven-pence in every shilling.
Public-domain text, read in full here on John Shaqi.
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