But I will now come to the Kingdom of England,where the raising of the Price hath been with a more constant hand,and,almost alwayes,out of a kind of Necessity to follow the raising of other States;yet,from time to time we shall not finde the Rates of the raising much to differ from those of France.But Icannot begin from so antient (a date)as in France;The first Record that I can find for this purpose being in the eighteenth year of Edward the Third,which was in the year of Grace about 1344.And then a pound of Gold of sterling Standard,which is 23carrats,3grains,and one half fine,was valued at 13pound 4s 8d.and a pound of Silver of sterling Standard,at 22s.2d.The 20th of Edward the Third,the pound of Gold of the same Standard was raised to 14pound,and the pound of Silver to 22s 6d.In the 27th of Edward the Third,the same gold was raised to 15pound,and the same Silver to 25s the pound;the rest of the reign of Edward the Third,and during all the Reign of Richard the Second,and until the Thirteenth of Henry the Fourth,the same prices remained.And then by the Advice of the Parliament,to prevent Transportation,the same Gold was raised to 16pound,15s and the same Silver to 30s the pound;and this price remained all the rest of the reign of Henry the Fourth,and during all the Reign of Henry the Fifth,and until the 49th of Henry the Sixth;and then the same Gold was raised to 22l.10s.and the same Silver to 37s.6d.But in the fourth of Edward the Fourth,the price of the same Gold was brought back to 20pound 16s.8d.the Silver remaining as before.And in the eighth of Edward the Fourth,the Gold was again raised to the former price of 22l.10s.the Silver still remaining at 37s.6d.And this price remained all the rest of the Reign of Edward the Fourth,all the Reign of Richard the Third,all the Reign of Henry the Seventh,and all the beginning of Henry the Eight:But in 18th of Henry the Eight,a Commission issued forth for the Alteration of the Standard,and of the Prices of Moneys,according to the Direction to be given by the Cardinal of York,and such other of the King's Council as he should call unto him:form whence issued so great a Confusion,both in the prices and Standard of the Moneys,as would prove very difficult to trace out,and tedious to read,as well for the Obscurity as for the great Variations,which succeeded:And therefore I pass over all the rest of his Reign,as also those of King Edward and Queen Mary,and until the fourteenth of Queen Elizabeth,when was again coined Gold and Silver of the antient sterling Standard,the Gold at 36l.the pound,and the Silver of the old Standard at 3l.the pound:and although there were at the same time and after much crown Gold coined,yet the intrinsical value of it was governed by (the weight and fineness of)the Angel of Gold:In the 25th and 26th of the Queen,she abased the standard of the Gold one quarter of a grain,and the standard of the Silver one penny weight,whereby the price of Gold was raised one shilling 10pence in the pound,and the price of Silver 3d.in the pound.but in the second year of King James,the price of the Soveraign,in gold which is but 22carats fine,was raised to 27pound,4shill.being almost one eleventh part more;and by the Proclamation,by which every 20shilling piece was made current for 22shillings,the said Gold was yet raised another tenth part;so that the increase of the price of Gold has been such by the Degrees before specified,that every pound sterling,by reckoning of Gold coin,and every part of a pound,as Marks,and Shillings,etc.in coin of Gold,did in the eighteenth of Edward the Third contain in intrinsical value (id est)in pure Gold,thrice as much and above a third part more than the same pound sterling in reckoning of Gold-coin,marks,shillings,etc.does at this day contain.And every pound sterling in reckoning of Silver-coin,and every part of a pound,as marks,shillings,etc.in Silver coins did in the 18th year of Edward the third,contain in intrinsical value,(id est)in pure Silver,thrice as much,wanting about 1/6th part as the same pound sterling,in reckoning of Silver coins,marks,shillings,etc.does at this day contain.
There is yet another Proportion of Gold and Silver to be inquired into as necessary to be known;and peradventure more necessary than either of these:And that is to enquire what Proportion our Gold and Silver holds in Value,being in Bullion,as it is presented to the Mint by the Merchant,in Comparison of the near adjoyning Countries:For by this Proportion we shall discover the Reason why the Merchant Brings Gold into England rather than Silver,and Silver into Holland rather than Gold,or,why he carries both,or either of them,into one Country rather than into another.And for that purpose,I will first begin with England,and then compare it with some of the nearest neighbouring Countreys.
In England,where the Merchant for so much Gold fine of 24carats,as makes a pound,Tower weight,doth receive 43l.7s.
1d.according to the rate of the Mint,which is 41l.5s.for a pound weight of sterling gold.
In France,according to the Edict of this King,Anno 1614,which is yet in force,the Merchant receiveth at this Mint for so much Gold of 24Carats,as makes a pound of Tower weight,but 426livres,and about 7sols and one half French more at the Mint in England for the same quantity of Gold,than the Merchant doth receive at the Mint in France.Of Silver,the Merchant,at the Mint in England receives for so much fine Silver as makes a pound,Tower weight,3l.4s.6d.the Merchant receives at the Mint in France,for the same quantity of Silver,2livres,and 2sols French,or 4s.and almost 2d.half penny more than the Merchant receives at the Mint of England.This Account I do make reckoning the 12ounces,Tower weight to make,as by tryal it has been proved,12ounces and 6deniers,Paris weight.
As for the United Provinces,etc.
