Elementary arithmetic, with brief notices of its history... by Robert Potts.

MONEY.

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absolutely necessary at that time. The provisions for remedy by this
new enactment were to continue for seven years.
Edward V. was about twelve years old at the time of his father's
death in 1483, and was murdered the same year.
Richard III., 1483-1485, the uncle of Edward V. usurped
the throne, and one Parliament was held during his short reign.
One of its provisions was a statute designed to stop the exportation of
the coins, and another to remedy tho abuses which had increased in
the Irish mints during the last three years of Edward IV. The same
type and legend appear on his coins as on those of Edward IV.
Henry VII., 1485-1509. The battle of Bosworth Field placed
Henry, Duke of Richmond, on the throne, with the title of Henry VII.
In the year 1489, the fifth year of his reign, a new gold coin was
ordered of the old standard of the realm, but double of the value of
the royal (rial). The Tower pound weight of gold was to be made
into coins 22- pieces by tale, each to be called a sovereign, and to
be of value in payment for 20 shillings sterlings. The statute of the 19th
year of his reign mentions half-sovereigns likewise. This statute also
ordains, "that clipped money shall not be current in payments. And
to prevent the clipping of coin in future, it is directed that a circle
shall be about the outer part of the new coins, and that the whole
scripture shall be about every piece, without lacking of any part
thereof, to the intent, that the king's subjects hereafter may have
perfect knowledge by that circle or scripture when the same coins be
clipped or impaired." Although this molnarch made no alteration in
the standard of the metal, he introduced several variations from the
usual type. He first placed on the coins an arched crown with a
globe and a cross on the arch. The type of his coins in the 19th
year was wholly changed. i;is portrait was given in profile, with a
crown of one arch only, a form whichr had not appeared on the coins
since the reign of King Stephen. A single beaded line likewise took
place of the double treasure upon the obverse of the groats and halfgroats; the inner circle of tle reverse, which contained the name of
the mint, was omitted; and the rude pellets, which had so long
occupied the quarters of the cross, were superseded by an escutcheon
of the royal arms surmounted by the cross. On some of these coins
he added to his name Septimus or VII., a practice whicll had been
disused ever since the reign of Henry III., on whose coins alone, of
all our monarchs, from tlhe earliest times, numerals or any other
distinction of the kind had disappeared. Tle omission of I, It, iin,
unon the coins of the first three Edwards, and of iv V, v, on three of
the Henrys, has occasioned dililculties almost insuperable in the
appropriation of their respective coins to those monarchs.
The type of the usual gold money was continued nearly the same
as before; but Henry's new coin, the sovereign, bore on the obverse the
monarch seated ina state upon his throne, from whence it derived its
name, and on the reverse a double rose, in allusion to the union
of the two Houses of Lancaster and York, with the royal arms in
the centre.
On his silver coins he is styled H-IENticus DEI GRATIA REx ANGLIE
ET FRANwCIE; to which is added on his gold coins, DosriNus HIBERNIE,
as on those of his predecessors. On sorme of his ecclesiastical pennies,
the king is represented on the throne, crowned and in royal robes,
in his right hand a sceptre, and in his left a globe.