"The present value in circulation in Jersey of English silver coin will illustrate my meaning. The shilling passes current for twenty-six sous, or thirteen pence of old Jersey currency; but the value of the shilling is not intrinsically or really changed—whether it is called twelve pence British or thirteen pence Jersey. In either case, a shilling remains a shilling, a pound sterling a pound sterling, worth twenty of the shillings, whether called twelve pence or thirteen pence. The intrinsic value of the coin, of the shilling, is precisely the same; and its relative value to the sovereign is not in the slightest degree modified. The only mode of changing the value of a coin is by an addition of the metal of which it is composed, or by deterioration. If a coin contains the same quantity of metal of the same standard, it does not vary in intrinsic value, whatever may be the denomination given to it, or whatever may be the depreciation of a coin of less value. For the same reason, whether the sou was called six liards or four liards, twelve deniers or eight deniers, that made no difference whatever in the real intrinsic value of the sou or the livre. Persons could not in justice be compelled to pay their accounts in liards, when the amount was stated in livres or sous; and hence to oblige them to pay fifty per cent. more than the amount due, when the amount offered was gold or silver, livres or sous, was egregiously unjust."—Le Quesne, page 421.
THE COATS OF ARMS OF THE CHANNEL ISLANDS.
Since the coats of arms for the islands of Guernsey and Jersey appear on the coins minted for these islands in England in the nineteenth century, the following notes may be of interest:—
In 1279 King Edward I. granted a Public Seal, with arms (as for England), to the islands of Jersey and Guernsey. The arms for Guernsey now differ only from those of Jersey in being surmounted by a sprig of laurel, or another plant. It is not, however, stated why or when this sprig was conferred. The arms read—
Gu—three lions or leopards passant gardant—or.
From the impressions of the Bailiewick seals, at different periods, it appears that slight differences occur. The inscription on the seal for Jersey runs—"S. Ballivic Insule de Jerseye."
Alderney and Sark, being dependencies of Guernsey, have on legal or authoritative documents either the seal as granted for that island or else local seals, as will be specified.
The Rev. G. E. Lee, Rector of St. Peter's, Port Guernsey, communicates the following interesting and very full note on the above-named matter:—