The History of Currency, 1252 to 1896

by William Arthur Shaw

As to the gold not agreeing with the silver (which was Article IV. of the inquiry), he thought that could not be remedied, unless the money were changed, and to change it in any manner would be productive of universal injury to Lords, Commons, etc.

To Article V. he advised that, whereas new money had been made in Flanders and in Scotland, proclamation be made that all manner of coins of Flanders, Scotland, and of all other places beyond the seas,

should be no longer current in England, and that no one should receive them in payment except as bullion to be carried to the King's Mint.

Lincoln, a goldsmith, gave his opinion similarly against the permission to export gold and silver, and proposed that the gold noble should remain of the same weight as it had been, but at a greater value.

To the First Article Cranten said, that no more in value of foreign merchandise should be consumed within the realm than should be exported of commodities, the growth of England; and then, whether the money were enhanced or debased, it would hereafter remain within the realm. Also, that exchanges or other payments by letters should not be made out of Flanders, or other parts beyond the seas, to pay in England for any merchandise.

John Hoo advised a proclamation against the carrying out of gold or silver, and that the money should be received by weight.

The statement of opinion of the succeeding and last witness is extremely valuable and interesting. Richard Aylesbury opined that, provided the merchandise exported from England was properly regulated,—that is, if no more of foreign commodities were allowed to be imported than the value of the native products which should be taken out,—the money then in England would remain, and great plenty would come from beyond the seas.

He also conceived it to be expedient that the Pope's collector [of Peter's Pence] should be an

Englishman, and that the Pope's money should be sent to him in merchandise and not in coin, and that the journeys of clerks should be entirely forbidden, on pain, etc.

For the feebleness of the gold, which was occasioned by clipping, he conceived there was no other remedy but that it should be universally weighed by those who received it, and that the proclamation should be made accordingly.