A Discourse of Coin and Coinage [0]
A Discourse of Coin and Coinage
by Rice Vaughan
1675
A Discourse of Coin and Coinage: The first Invention, Use,
Matter, Forms, Proportions and Differences, ancient & modern:
with the Advantages and Disadvantages of the Rise and Fall
thereof, in our own or Neighbouring Nations: and the Reasons.
Together with a short Account of our Common Law therein.
by Rice Vaughan, late of Grayes-Inn, Esq;
London, Printed by Th. Dawks, for Th. Basset, at the George, near
Cliffords-Inn, in Fleet-street. 1675.
To the Right Honourable Henry Earl of Clarendon, Viscount
Cornbury, and Baron Hide of Hindon; Lord Chamberlain to the
Queens most excellent Majesty.
Most Noble Lord,
It being become a thing so usual in this most scribling Age,
(nam scripturire quam parturire mallet hoc soeculum) to crave
shelter under the wings of some renowned Person, from the
severity of Censurers; without which, Learning shall scarcely
have Admittance: and this piece though not my own, yet coming to
my hands amongst other manuscripts of a Gentleman of Grayes Inn,
lately deceased; (and very near related to me) whose Genius, I
may safely say, was not a little curious in the search of other
knowledge than the Law, (to which he served five
Apprenticeships). And humbly conceiving nothing could more
seasonably appear in View for the better instructing our worthy
Countrymen in the Knowledge of a thing whose want is so generally
complained of, yet the Invention, Use, and Species with their
Advantages scarce truly understood; I presumed through that true
knowledge of your Lordships Person, and most zealous Honour of
your greatly to be admired Endowments, with your Love to
Learning, which the most plebeian ears and eyes were not ignorant
of, to recommend unto your Lordships hand this Treatise, in a
more ample and different manner than that lately published out of
the Mss. of the never to be forgotten Earl of Sandwich, shewing
the first Invention, Use, Matter, Forms, Proportions, and
Differences, Ancient and Modern of that Coy Lady Pecunia, with
the Advantages and Disadvantages of the Rise or Fall thereof in
our own and neighbouring Nations; and the Reasons Pro and Con,
with other things in the other piece not contained. And here I
cannot, without great unworthiness, be silent in the due praises
of his most Excellent Majesty that now is, who with abundance of
Royal Care and Wisdom, with no small charge, hath set forth a
Coin in Form, shape, Goodness, and Beauty, not second to any used
in the world, in Common Commerce, and so uneasy to be patterned
or imbellished, a thing of no small consequence in Commonwealths.
Herewith you have a short account of our books of Law; as also
Tables of the value of all sorts of Pearls, Diamonds, Gold,
Silver, and other Metalls.[omitted from this edition]. I shall
not undertake to say, but that n the Tables of values, in these
mutable times, some variation may happen, to the common practice
of Artists, in that nature, whose private unmeasurable Ends are,
to some more their Gods than Justice or Honesty their Practise:
but the Grounds being herein plainly stated; a pregnant wit, with
a little Commerce, may soon rectify those diary Deceits, and for
the other part, whose Theory perhaps in some places, may be
thought too much to reflect on the too often practised Abuses of
the Gold-Smiths in that Nature; I hope all but themselves will
readily grant me Pardon for the Publishing, and they being but a
few, and Justice on our side, the Authors Bones I trust will not
disturb, nor I much suffer by the selfish Censures of a People so
obstinately unreasonable. Mr Lord, I shall now only beg pardon
for this presumption, in hopes of success, till time give
opportunity to testify how much I am
My Lord,
truly devoted to your Lordships service,
and your Admirer,
Henry Vaughan.
Chapter 1
Of the First Invention and Use of Money.
The first invention of Money was for a Pledge and instead of
a surety, for when men did live by Exchange of their