A Discourse of Coin and Coinage [22]
author could produce one piece of Silver or Gold
made in the Mill counterfeited since the Introduction thereof
brought into France; and there is nothing that the counterfeiters
of Money and their foster Fathers the Alchymists, do more fear
and apprehend, knowing that they cannot suborn base and abject
mettals, as Copper, Lead, Tinn, (the materials of Counterfeiters)
for Gold and Silver, but that the piece will instantly be
discovered, because the Moneys made in the Mill will always be
equal and of like volume, greatness and thickness, because it all
passeth by the same Coupier which cutteth equally, which cannot
be the case with the Moneys made with the Hammer, (the Hammer not
being governed with an equal force and measure, as in the Mill.)
Neither can they be clipped, but that the exposer thereof will be
discovered, taken and punished. And it may be avowed that the
Teston made in the Mill hath not been seen clipped in France, the
perfect representation of the King's Image seeming to have been
retained, and terrified the Clippers.
5. As for the last Objection, That no man will undertake to
make Money in the Mill, but at the rate which is paid for the
mark of the Silver Counters: This objection proceeds out of
Ignorance, because, the matter of Silver Counters is Argent le
Roy, and therefore of greater fineness than the Money, and
requires a greater charge to refine it to that title and degree.
Besides the maker of Silver Counters must have a great diversity
of Chisels, and Prints of a different sort from those of Moneys,
and almost as many as there be different Noble men, Corporations,
and Townhouses, that take pleasure to have their Arms or Devises
engraven in Silver or Copper Counters; whereof sometimes the very
square will cost 20 Livres, which shall serve only for one purse
of two marks of Counters; and for proof thereof let the Masters
of the Mills for coining of Doubles be called, and he will
undertake for the same wages and fees that the Moniers have, to
make the Moneys in the Mill. Thus far this Author: but as I said
before, I undertook this Discourse of the Mechanical part of
Money with Scruple, so I do leave it with Alacritie.
Chapter 11
Of the great increase of the Proportion between Gold and Silver,
and the things valued by them; by which there is grown a greater
want of Money in England than was in Antient times, and of the
Causes thereof, and of the Remedies which may be applied.
Because this Title is of a very curious and perplexed Search,
I am inforced contrary to a Logical Method, to set down my
Conclusion first, and to explain by the cleerest Expressions I
can think of, what it is I intend to prove, and by what ways, and
then to prove that the price of all things, which is the
Proportion between Money and the things, which is the Proportion
between Money and the things valued by Money, at this present is
much encreased from what it was in antient times: and because I
will set down a time certain of Antiquity, I will take the 25th
year of Edward the Third, when a pound of Gold of sterling
standard made 15 l. sterling, and a pound of Silver of the same,
made 25s. sterling. I intend to prove that this increase of price
and Proportion is not meerly according to the raising of the
Money, which hath bin since that, and is about the rate of three
for one, as the Money hath been raised, for then the price and
proportion should be only nominally, and not really encreased,
for that if we pay now 3s. for that which in the 25th year of
Edward the Third cost but 1s. and if we pay now 3 Crowns for that
which cost then but one; yet if then there was as much fine Gold
in one Crown as now there is in 3, the price should only be
increased in name; but the proportion between gold and silver,
and the things valued by them, would remain the same. But I
intend to prove that this increase of Proportion hath bin real,
and that the price of things in general is now grown six times as
much or eight times as much as then they cost, in name of
Shillings,
made in the Mill counterfeited since the Introduction thereof
brought into France; and there is nothing that the counterfeiters
of Money and their foster Fathers the Alchymists, do more fear
and apprehend, knowing that they cannot suborn base and abject
mettals, as Copper, Lead, Tinn, (the materials of Counterfeiters)
for Gold and Silver, but that the piece will instantly be
discovered, because the Moneys made in the Mill will always be
equal and of like volume, greatness and thickness, because it all
passeth by the same Coupier which cutteth equally, which cannot
be the case with the Moneys made with the Hammer, (the Hammer not
being governed with an equal force and measure, as in the Mill.)
Neither can they be clipped, but that the exposer thereof will be
discovered, taken and punished. And it may be avowed that the
Teston made in the Mill hath not been seen clipped in France, the
perfect representation of the King's Image seeming to have been
retained, and terrified the Clippers.
5. As for the last Objection, That no man will undertake to
make Money in the Mill, but at the rate which is paid for the
mark of the Silver Counters: This objection proceeds out of
Ignorance, because, the matter of Silver Counters is Argent le
Roy, and therefore of greater fineness than the Money, and
requires a greater charge to refine it to that title and degree.
Besides the maker of Silver Counters must have a great diversity
of Chisels, and Prints of a different sort from those of Moneys,
and almost as many as there be different Noble men, Corporations,
and Townhouses, that take pleasure to have their Arms or Devises
engraven in Silver or Copper Counters; whereof sometimes the very
square will cost 20 Livres, which shall serve only for one purse
of two marks of Counters; and for proof thereof let the Masters
of the Mills for coining of Doubles be called, and he will
undertake for the same wages and fees that the Moniers have, to
make the Moneys in the Mill. Thus far this Author: but as I said
before, I undertook this Discourse of the Mechanical part of
Money with Scruple, so I do leave it with Alacritie.
Chapter 11
Of the great increase of the Proportion between Gold and Silver,
and the things valued by them; by which there is grown a greater
want of Money in England than was in Antient times, and of the
Causes thereof, and of the Remedies which may be applied.
Because this Title is of a very curious and perplexed Search,
I am inforced contrary to a Logical Method, to set down my
Conclusion first, and to explain by the cleerest Expressions I
can think of, what it is I intend to prove, and by what ways, and
then to prove that the price of all things, which is the
Proportion between Money and the things, which is the Proportion
between Money and the things valued by Money, at this present is
much encreased from what it was in antient times: and because I
will set down a time certain of Antiquity, I will take the 25th
year of Edward the Third, when a pound of Gold of sterling
standard made 15 l. sterling, and a pound of Silver of the same,
made 25s. sterling. I intend to prove that this increase of price
and Proportion is not meerly according to the raising of the
Money, which hath bin since that, and is about the rate of three
for one, as the Money hath been raised, for then the price and
proportion should be only nominally, and not really encreased,
for that if we pay now 3s. for that which in the 25th year of
Edward the Third cost but 1s. and if we pay now 3 Crowns for that
which cost then but one; yet if then there was as much fine Gold
in one Crown as now there is in 3, the price should only be
increased in name; but the proportion between gold and silver,
and the things valued by them, would remain the same. But I
intend to prove that this increase of Proportion hath bin real,
and that the price of things in general is now grown six times as
much or eight times as much as then they cost, in name of
Shillings,