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

MONEY.

37

current money; and the total value imposed upon the coins by arbitrary
power was no less than ~1596789. Os. 6d. sterling.' If to this amount
be added the increase by raising the half-crowns to the value of crowns,
and the reduction in the weight of the large shillings and small halfcrown pieces, these additions on a very moderate computation would
raise the above amount to ~2163239. 9s. as the produce of ~6495,
the real value of the metal. There might also be some further
additions made to this large sum, if it were known exactly what
proportions were coined into copper half-crowns and restamped into
crowns, and also what sums were coined into white mixed metal
crowns, and into pewter pennies and half-pennies. A prodigious sum
of money was raised by this scheme in a short time, exceeding ~180000
a month. Of all this money, when that unhappy prince fled from
Ireland, there was little found left in the mint, not above ~22489, of
metal value ~642, as appears from the accounts of Lord Coningsby,
Vice-Treasurer of Ireland, and of which he rendered an account.2
In this wretched money the Popish soldiers were paid their subsistence, and the Protestant tradesmen and creditors were obliged to
receive it for their goods and debts, and it was computed that they
lost upwards of ~60000 a month by this cruel stratagem. The
Governor of Dublin, the Provost-Marshal and his deputies, threatened
to hang up all who refused it.
The records of history in no former age of the civilized world
exhibit a parallel to these proceedings of King James II. and his
Roman Catholic advisers and adherents. By the force of his Royal
prerogative, he invested base metal of the real value of four pence,
with the current value of ~10 sterling.
William III., 1689-1702. The abdication of James II. opened
the way for King William and Queen Mary to the throne of England.
In the first year of this reign a coinage was ordered to be continued
of the same kind, weight and fineness, as had been ordered in the
first year of King James II.
Crowns were issued with the busts of the King and Queen on the
obverse towards the right, surrounded by the words GULIELMUS ET
1 The amount stands thus:
Weight of metal Value imposed on coinage.
Avoir. lb. oz. ~. s. d.
62,422 21 coined into large shillings,...... 245,879 17 0
110,308 15,, half-crowns.. 443,498 10 0
172,731 1l,, large shillings and half-crowns.689,378 7 0
14,080 3,, small sixpences........ 49,042 6 6
8,914 11l,, small shillings.............. 41,800 0 0
21,267 0a,, small half-crowns..............127,200 0 0
lbs. 389,724 21 ~1,596,799 0 6
Accounted for as thus stated (Simon, p. 62).
Imposed value, real value.
~. s. d. ~. s. d.
17292 copper crowns...... 4,323 0 0 valued at Id. each 72 1 0
126503 large half-crowns.. 15,812 17 6,, d. each 527 1 11
2489 small crowns........ 311 2 6,,,, 7 15 6
9043 large shillings...... 452 3 0,,, 18 16 9
4757 small shillings...... 237 17 0, 4 19 l
6000 copper sixpences.... 150 0 0,,, 6 5 0
4808 pewter crowns...... 1202 0 0,,, 5 0 2
~22489 0 0~641 19 51