A Discourse of Coin and Coinage [51]
he maketh every year, and his Customes of Poitou. But
the standard of his Moneys was stabely kept from Charles the
Fifths time till the first year of Charles the Seventh, at which
time the English being in possession of the greatest part of
France, Charles the Seventh having no other means to maintain the
Wars, did from the year one thousand four hundred seventeen, to
the year one thousand hundred twenty three, raise the silver by
several degrees from eight livres nine sols the mark to 360
livres the mark, so as the Money was raised in six years above
forty times the value of what it was before; of all which neither
our Chronicles nor those of France do make but ???nder mention,
in respect of what they speak of the Pucelle d'Orleans: And yet
the Truth of it is evident by the Records of the Mint: and all
those who have written of the affairs of the Mint, in that
Kingdom, do unanimously agree that this was the Principal mean by
which is as strange as all the rest, is, that at one instant the
Money was reduced again to seven livres, ten sols the mark; and
from that time there have not been any raising of Money in France
of this nature, although the Moneys there have been continually
raised ever since, either to follow the People, who did first
raise their Moneys by their estimation, or to follow the raisings
of other Nations, or to raise above other Nations, to draw their
Money into that Kingdom.
In England there is but one Example of raising in this kind,
which was begun in the eighteenth year of Henry the Eighth, and
continued in divers Princes Reigns after, and was not absolutely
reduced, until the fourteenth year of Queen Elizabeth; and this
raising, although it were far short in Proportion to those
formerly recited, it was much more inexcusable than they were,
for that this Action though it be never justifiable, yet in a
case of extream and unresistable Necessitie, it may be excused,
which was not the case of Henry the Eight, for although he wanted
Money, yet there were much more justifiable wayes to supply it;
and it was not imployed to avoid his own ruin, but in ambitious
Enterprises.
The next in time was that raising Money by the overmixture of
ally made in Ireland, in the three and fortieth year of Queen
Elizabeth's Reign, which although it were not excessive in
Proportion, and lasted but a small time, yet had very many
memorable Circumstances to be observed in it.
The last which I will mention is that which was made by the
Emperor (which now lives) in the year --- who being reduced
within the Walls of Vienna, and having almost nothing else left
him, but the Soverain title of the Empire, did by coining of the
lesser and baser kind of Money five times baser than formerly it
was, extend five times further in use, for the present, than
otherwise he could have done, all those Moneys which he drew by
way of assistance from the King of Spain, or from the Pope, or
from other Princes of Italy; and besides, having a part of the
profit of the Mint in divers other parts of Germany, he did
exceedingly support his Affairs at the present by that means; and
it was a principal occasion by which he prevailed against the
King of Bohemia, who although for his part also, he raised his
Moneys three times in value to what they were before (yet as he
was always a strict observer of the contributions of the Empire)
he coined no other small Moneys, but those of his own stamp, and
they were only current within his own Countries.
Now all these several Raisings which I have mentioned, were
not all by one way, but indeed they were by all ways differing
from one another; and as the Ways of making profit by the Raising
did differ, so the Inconveniences which follow did differ
likewise, and as the Inconveniences did differ, so the ways of
Reduction did differ also, all which will require a long and
curious Disquisition but I do leave it to a second breathing.
Lord Coke's Account of Coin and Coining
Coin in 6 E. 1 was but 20d the ounce, but now it is above thrice
the standard of his Moneys was stabely kept from Charles the
Fifths time till the first year of Charles the Seventh, at which
time the English being in possession of the greatest part of
France, Charles the Seventh having no other means to maintain the
Wars, did from the year one thousand four hundred seventeen, to
the year one thousand hundred twenty three, raise the silver by
several degrees from eight livres nine sols the mark to 360
livres the mark, so as the Money was raised in six years above
forty times the value of what it was before; of all which neither
our Chronicles nor those of France do make but ???nder mention,
in respect of what they speak of the Pucelle d'Orleans: And yet
the Truth of it is evident by the Records of the Mint: and all
those who have written of the affairs of the Mint, in that
Kingdom, do unanimously agree that this was the Principal mean by
which is as strange as all the rest, is, that at one instant the
Money was reduced again to seven livres, ten sols the mark; and
from that time there have not been any raising of Money in France
of this nature, although the Moneys there have been continually
raised ever since, either to follow the People, who did first
raise their Moneys by their estimation, or to follow the raisings
of other Nations, or to raise above other Nations, to draw their
Money into that Kingdom.
In England there is but one Example of raising in this kind,
which was begun in the eighteenth year of Henry the Eighth, and
continued in divers Princes Reigns after, and was not absolutely
reduced, until the fourteenth year of Queen Elizabeth; and this
raising, although it were far short in Proportion to those
formerly recited, it was much more inexcusable than they were,
for that this Action though it be never justifiable, yet in a
case of extream and unresistable Necessitie, it may be excused,
which was not the case of Henry the Eight, for although he wanted
Money, yet there were much more justifiable wayes to supply it;
and it was not imployed to avoid his own ruin, but in ambitious
Enterprises.
The next in time was that raising Money by the overmixture of
ally made in Ireland, in the three and fortieth year of Queen
Elizabeth's Reign, which although it were not excessive in
Proportion, and lasted but a small time, yet had very many
memorable Circumstances to be observed in it.
The last which I will mention is that which was made by the
Emperor (which now lives) in the year --- who being reduced
within the Walls of Vienna, and having almost nothing else left
him, but the Soverain title of the Empire, did by coining of the
lesser and baser kind of Money five times baser than formerly it
was, extend five times further in use, for the present, than
otherwise he could have done, all those Moneys which he drew by
way of assistance from the King of Spain, or from the Pope, or
from other Princes of Italy; and besides, having a part of the
profit of the Mint in divers other parts of Germany, he did
exceedingly support his Affairs at the present by that means; and
it was a principal occasion by which he prevailed against the
King of Bohemia, who although for his part also, he raised his
Moneys three times in value to what they were before (yet as he
was always a strict observer of the contributions of the Empire)
he coined no other small Moneys, but those of his own stamp, and
they were only current within his own Countries.
Now all these several Raisings which I have mentioned, were
not all by one way, but indeed they were by all ways differing
from one another; and as the Ways of making profit by the Raising
did differ, so the Inconveniences which follow did differ
likewise, and as the Inconveniences did differ, so the ways of
Reduction did differ also, all which will require a long and
curious Disquisition but I do leave it to a second breathing.
Lord Coke's Account of Coin and Coining
Coin in 6 E. 1 was but 20d the ounce, but now it is above thrice