1707.
Ruddiman, finding that, during the time between December 1602 and April 1613, there was rather more estimated value of gold than of silver coined in the Scottish mint, arrived at the conclusion (though not without great hesitation), that there was more value of gold coin in Scotland in 1707 than of silver, and that the sum-total of gold and silver money together, at the time of the Union, was consequently ‘not less than nine hundred thousand pounds sterling.’ We are told, however, in the History of the Bank of Scotland, under 1699, that ‘nothing answers among the common people but silver-money, even gold being little known amongst them;’ and Defoe more explicitly says, ‘there was at this time no Scots gold coin current, or to be seen, except a few preserved for antiquity.’[[391]] It therefore seems quite inadmissible that the Scottish gold coin in 1707 amounted to nearly so much as Ruddiman conjectures. More probably, it was not £30,000.
It would appear that the Scottish copper-money was not called in at the Union, and Ruddiman speaks of it in 1738 as nearly worn out of existence, ‘so that the scarcity of copper-money does now occasion frequent complaints.’
If the outstanding silver-money be reckoned at £60,000, the gold at £30,000, and the copper at £60,000, the entire metallic money in use in Scotland in 1707 would be under six hundred thousand pounds sterling in value. It is not unworthy of observation, as an illustration of the advance of wealth in the country since that time, that a private gentlewoman died in 1841, with a nearly equal sum at her account in the banks, besides other property to at least an equal amount.
In March 1708, while the renovation of the coinage was going on, the French fleet, with the Chevalier de St George on board, appeared at the mouth of the Firth of Forth, designing to invade the country. The Bank got a great alarm, for it ‘had a very large sum lying in the mint in ingots,’ and a considerable sum of the old coin in its own coffers, ‘besides a large sum in current species; all of which could not have easily been carried off and concealed.’[[392]] The danger, however, soon blew over. ‘Those in power at the time, fearing lest, all our silver-money having been brought into our treasury, or into the Bank, a little before, there should be a want of money for the expenses of the war, ordered the |1707.| forty-shilling pieces to be again issued out of the banks; of which sort of coin there was great plenty at that time in Scotland, and commanded these to be distributed for pay to the soldiers and other exigencies of the public; but when that disturbance was settled, they ordered that kind of money also to be brought into the bank; and on a computation being made, it was found that the quantity of that kind, brought in the second time, exceeded that which was brought in the first time [by] at least four thousand pounds sterling.’[[393]]
We are told by the historian of the Bank, that ‘the whole nation was most sensible of the great benefit that did redound from the Bank’s undertaking and effectuating the recoinage, and in the meantime keeping up an uninterrupted circulation of money.’ Its good service was represented to the queen, considered by the Lords of the Treasury and Barons of Exchequer, and reported on favourably. ‘But her majesty’s death intervening, and a variety of public affairs on that occasion and since occurring, the directors have not found a convenient opportunity for prosecuting their just claim on the government’s favour and reward for that seasonable and very useful service.’
Nov. 3.
Mr John Strahan, Writer to the Signet in Edinburgh, was at this time owner of Craigcrook, a romantically situated old manor-house under the lee of Corstorphine Hill—afterwards for many years the residence of Lord Jeffrey. Strahan had also a house in the High Street of Edinburgh. He was the owner of considerable wealth, the bulk of which he ultimately ‘mortified’ for the support of poor old men, women, and orphans; a charity which still flourishes.
Strahan had a servant named Helen Bell to keep his town mansion, and probably she was left a good deal by herself. As other young women in her situation will do, she admitted young men to see her in her master’s house. On Hallowe’en night this year, she received a visit from two young artisans, William Thomson and John Robertson, whom she happened to inform that on Monday morning—that is, the second morning thereafter—she was to go out to Craigcrook, leaving the town-house of course empty.
About five o’clock on Monday morning, accordingly, this innocent young woman locked up her master’s house, and set forth on |1707.| her brief journey, little recking that it was the last she would ever undertake in this world. As she was proceeding through the silent streets, her two male friends joined her, telling her they were going part of her way; and she gave them a couple of bottles and the key of the house to carry, in order to lighten her burden. On coming to a difficult part of the way, called the Three Steps, at the foot of the Castle Rock, the two men threw her down and killed her with a hammer. They then returned to town, with the design of searching Mr Strahan’s house for money.