Pikes could be made in Ireland, where ash-trees are plentiful, for 3s. 10d. apiece, but firearms and even swords had to be imported from France. Textile fabrics of all sorts ran short. In the winter of 1689 some armourers were at work in Dublin, but the supply of steel was insufficient. Wool was abundant, and cloth for uniforms could be produced. But the most important manufacture under James’s rule was brass money. Needy governments have been tempted in all ages to tamper with the currency. Gallienus, and other late Roman emperors, carried the practice very far. Leather money was issued by Indian princes at a very early date, with the usual result. The credit of paper, which is the modern equivalent, depends upon the ability of the government to make good its nominal value. In the American Civil War, the notes of the seceding states became depreciated as the end drew near, and when all was over were sold very cheap as curiosities. Three months after James’s arrival in Dublin he issued a proclamation setting forth that money was scarce, and that he proposed to remedy this by coining sixpenny pieces out of brass or copper. These were made legal tender, except for the payment of duties on foreign commodities, of money held in trust, or of judgment debts already due. Interest accruing thereafter on mortgages, bills, bonds, or obligations might be satisfied with the new currency, and also the principal of debts ‘where the debtor or his goods are or shall be taken in execution of the same.’ Refusal to accept the new coin was to be punished with the utmost rigour of the law as contempt of the royal prerogative, but actual importers of foreign goods were excepted for the first payment. The King declared that the expedient was only temporary, and promised to pay the full value in gold or silver when the base coin should be cried down. A few days later an issue of shillings and half-crowns was proclaimed on the same terms.[252]
A depreciated currency.
The full effect of these measures in destroying credit and paralysing trade was not felt at once. Within a month of the first proclamation Avaux reported that the copper coins were everywhere taken as ready money, and that this was a great relief to King James. The precious metals soon disappeared from circulation. Even copper ran short, and the ambassador applied to the French King for at least fifty tons. Steel to make dies was also wanted, and men who could use it; for the whole supply of money depended on a single Protestant engraver who might go away at any moment. When French troops were expected, it was decided, after much discussion, to pay them in French money, and this made matters worse. Prices rose to an undreamed-of height in anticipation of brass having to compete with gold and silver. Cannon were converted into coin, and the total issue ultimately reached a million or more. Every sort of rubbish was used to make up for the want of good brass or copper. Half-crowns were converted by re-stamping into crowns, and at last a guinea, which at the beginning of 1689 was worth 24s. Irish, became exchangeable for base metal to the nominal value of 5l. As in the old Greek tale, gold made its way in spite of brass. The Protestants hoarded it or smuggled it to England. Writing to the exiled Queen on December 12/22, Tyrconnel says, ‘Not a farthing of silver or gold is now to be seen in this whole nation.’ All attempts to arrest the depreciation of course failed. By one proclamation the Government undertook to receive any quantity of currency by way of loan, to be repaid in specie when it was decried, interest being fixed at six per cent., and afterwards at ten; but the public liked not the security. All the exceptions made in favour of creditors were abrogated, and brass or pewter money was declared universal legal tender. To counterfeit it was high treason, and to refuse it contempt of the prerogative. Only a fortnight before the Boyne a guinea was officially rated at 38s., and no one was to give more on pain of death. When William gained possession of Dublin he lost no time in crying down the base money. The best of the crowns and half-crowns were made legal tender for one penny, and the smaller pieces in proportion.’[253]
Fight at Newry.
Wolseley takes Belturbet
and Cavan.
The military operations between Schomberg’s retirement from Dundalk and the landing of King William were not very important. Boisseleau made an attempt to surprise the ruined town of Newry, but his party was beaten back by the small garrison consisting chiefly of sick men. Some who could not stand managed to fire with their backs propped against the walls of the roofless houses, and others shot from the windows. Among the slain Irish was Magennis, who killed Tory Hamilton at Down in 1686. After this Schomberg sent regular reliefs, and Newry remained his outpost on the side of Belfast. The outpost on the side of Enniskillen was Belturbet, which Wolseley surprised early in December. More than two months later Berwick led an expedition to recapture it, and concentrated a considerable force at Cavan. Wolseley was well informed and determined on a night attack before the whole of the enemy arrived. He had with him about a thousand men, and the English accounts say that Berwick’s force along with the garrison was four times as large. This is probably an exaggeration, but the odds were certainly not less than two to one. Wolseley was delayed on the march, and did not reach Cavan till after daybreak. The surprise was not therefore complete, and the assailants were met by a smart fire. The Irish retired through the town to the fortified castle, and the Enniskilleners, who imagined their victory complete, began to plunder in all directions. A sally followed, and Wolseley had to set fire to the houses to get his men out. They fell back on the reserve, and he then advanced in good order. Berwick’s success was short-lived. His cavalry, as he tells us himself, fled for a distance of twelve miles, and he owns to a loss of 500. Wolseley lost thirty men and two officers. Among the slain was Brigadier Nugent, a brave soldier, much regretted by the Irish, and many officers were taken prisoners. Berwick had a horse shot under him. The victorious soldiers took 4000l. in brass money, but they threw it about the streets as not worth carrying away. The Castle was too strong to attack, and Wolseley marched back to Belturbet, which was not molested afterwards. Soon after this Sir John Lanier threatened Dundalk, but found it too strong to attack. A detachment took Bellew Castle, and 1500 cattle were driven off. Schomberg had garrisons at Clones, Monaghan, and Armagh, and his headquarters were at Lisburn. There were frequent skirmishes along the line between Lough Erne and Newry, but beyond it Charlemont was the only place holding out for King James. The rest of Ireland was in his power.[254]
Avaux and Rosen were both recalled to please James and because neither of them could get on with Lauzun. Avaux did his best to hide his contempt for the King, but did not quite succeed. Rosen was scarcely civil to His Majesty and was moreover hated by every officer in the Irish army.