direction； there are no publick Records extant of them。 In the
third of Edward VI a Commision was granted to coin Gold at 22
Carrats fine； of the value of 34 l。 the pound： and Silver of 8
ounces fine； of the value of 4 l。 16s。 the Pound whereby a pound
of Gold fine was valued at 37 l。 and almost 2s。 and a pound of
Silver fine was valued at 7 l。 4s。 and by that rate； a pound of
fine Gold was as five pound of fine Silver and 22s。 over： which
could not so fall out but through the excessive gain which the
King did make upon the Silver more than on the Gold： and it seems
that the proportion was much other between the Merchants in
Bullion； for neer about the same time the King gave Commission to
buy Gold and the Mint of 24 Carrats fine； at 58s。 the ounce； and
Silver of 12 ounces fine 5s。 4d。 which is almost jj for one。
These confusions did still remain all Kind Edward and Queen
Maries Reigns； but in 14 of Queen Elizabeth the antient sterling
standard both of Gold and Silver was renewed； and a pound of Gold
fine valued at 11 l。 of fine Silver； and 7s。 10d。 over： In the
24th of Elizabeth the standard of Gold was abased one quarter of
a grain； and of Silver one pennyweight； but the proportion
between two metals near upon the same point： And although in
these times the Crown Gold was coined upon another standard； yet
the proportion in the Intrinsical value was kept the same。 In
secundo Jacobi； the proportion was 12 for one； but every 20s。
being afterwards by Proclamation raised to 22s； one pound of fine
Gold of 24 carrats； is valued at 13 l。 of fine Silver of 12
ounces fine and one fifth over。
And these are the Antient and Modern proportions of Gold and
Silver to one another in price； as punctually and authentically
as by diligent search I could gather them。 There is yet another
proportion between mettals； which is not unnecessary to our
purpose to be understood； which although I have not by mine own
trial examined； yet having taken it from good Authors； I will not
omit； and that is a natural and a constant proportion which
mettals do hold differently to one another in weight in the same
value and superficies： which is； that Gold weighs 48 parts； Quick
Silver 27 parts； Silver 24 parts； Lead 22 parts； Tinn； Iron；
Coper； 15 parts； which different proportion of weight was the
ground of that condition of Archymedes whereby he found out how
much Silver the workmen of Hiero put into his Crown of Gold； and
which is likewise the ground of many other subtil Conclusions；
which have bin found out for the deprehension of mettals； and
other mechanical works； and by this proportion those of China do
examine the fineness of the Gold which is current amongst them；
who by constant Relation； being said to be most subtile and exact
in mechanical trials of mettals； have not the Gold which is
current amongst them coined； but reduced into powder； which they
do pass to one another in their commerce by weight； and do easily
deprehend if there be mixture of Allay amongst it by measuring
the powder； and then tempering the weight and measure together。
Chapter 5
Of the raising of the price of Money both of Silver and Gold
It is to be understood that there are three ways of raising
the price of Moneys either Gold or Silver： The first is without
alteration of the Species of the Money； by encreasing the value
of it； by giving more parts to it than originally it had； as by
ordaining an Angel or a Soveraign to be valued at eleven
shillings； which was coined for ten； or a shilling to be valued
at fourteen pence。 The second way is by diminishing the matter；
but leaving the same name and value to the Money which it had
before； as if Shillings or Angels； or Soveraigns were coined by
the same name and value as before； but were diminished so many
grains in weight： or； if new names were given to them and the
same value retained； but the weight diminished； for in this case；
there being really less Gold and Silver in weight in the piece
than there was before and the value remaining the same； the
Silver and Gold which remains hath a higher price set upon it。
The third is when the value remaining the same of the species of
Money； and the weight of the same； the fineness is abased by
putting more Allay into it； for then there is really less Gold
and Silver in fineness。
There are two causes of the raising of Money： the first and
most antient cause of raising Money； was a gain which the state
made of it in their Necessities； which hath not often been
practised in this Kingdom。 But the second and most frequent cause
hath been； an Art which States have used to rob one another of
their Money； by setting on higher prices upon it； so that some
States being induced； by an unjust device； to draw to themselves
the Money of their Neighbours； and others by a necessity to keep
their own。 All these parts of the world； for some few hundred of
years； have done nothing but vye one upon another who shall raise
their Money highest； which hath brought great Confusion in all
States； and doth threaten much greater； if it be not prevented。
But first to shew the Antiquity of the practice of raising of
Monies we will begin with the Romans。 The As； which was
originally coyned of a pound weight； was； during the first Punick
War for help of publick necessities； brought to 2 ounces； and all
the lesser parts of the As； as ounces and others； were abated in
proportion。 During the Dictatorship of Fabius Maximus the As was
brought to one ounce weight； and yet reduced again by Papirius to
half an ounce。 The Denarii of Silver were at first current for
ten As； and the Sestertii； which were quarters of the Denarii；
for two and a half as。 But when the weight of the as was
diminished to one ounce the denarius was made worth sixteen as；
and the sestertius worth four as。 They did likewise make sundry
abasements （by means） of the Allay； whereof that of Livius Drusus
was excessive； mixing an 8th part of Copper。 And hereby the
confusions grew so great； that Tullie in a passage of his Offices
saith； Jactobatur enim Temporibus illis Nummus； sic ut nemo
posset scire quid haberet （in pecunia）； where upon Marius
Gratidianus； who being Triumvir monetae cudendae； brought in an
exact Ordinance for the regulating of this Money； had Statues
erected to him by the people。 The first gold pieces were coined
of 40 pieces in the pound； and in the time of Justinian； the same
pieces； called Solidi aurei were 72 in the pound。 After the great
inundations of the Barbarous people into the Roman Empire； the
Confusions in this subject of Money grew incredible。
Charles the Great； in whose time the Monarchy of the Francks
grew to the Height； made a new Reglement of Moneys； which is the
same that continues to this day in France； and is the same which
we do now practice in England； for the division of Moneys； though
for the Values of them the difference is grown exceeding great：
For he renewed again the Account by Livres or Pounds； and divided
the Pounds into twenty Solidi； which in France they call Sols；
and we Shillings； the solidus again into 12 Denarii； which in
France they call Deniers； and we pence。 But the values are grown
so different as every of our Shillings； our Pounds； our Pence are
valued at ten of theirs： and yet in intrinsical value are more。
Many do hold that by the Institution of Charles the Great； twenty
Sols contained in them a Pound of silver。 but it is authentically
to be proved； both by unquestionable Records； and by Pieces
themselves； of which I have some extant； that many hundred of
years after； in the time of St。 Lewis； who was contemporary with
our Henry the Third； that the Sols then contained in intrinsical
value near six Sols of this present King； so much hath the Money
since that time been raised in price； and abased in substance；
which is the same。 In the Reign of Philip the Second； in the year
1181； the French Mark of fine Gold； which makes almost 8 ounces
of our Pound； was valued in the Moneys then at 44 livres； and the
Mark of the King's Silver was valued at 2 livres； 13 sols； and 4
deniers。 And by the Edict of this present King； in the year 1614；
the Mark of the same Gold was valued at 278 Livres； 6 Sols； 6
Deniers。 And the Mark of the same silver was valued at 20 livres；
5 Sols； so that in this time； the Gold hath been raised to six
times； and almost the third part of the price which then it did
bear； and the Silver hath been raised much above seven times the
value which then it did bear。
I will not trouble the Reader to set down by what degrees
this Price has grown to so great an height which have been very
various； the Price having been sometimes excessively raised and
sometimes sudainly reduced back again by the French Kings； and
most commonly to make a Levy of Monies upon the People； which
hath bred infinite Confusions； and sometimes Rebellions in that
Kingdom。
But I will now come to the Kingdom of England； where the
raising of the Price hath been with a more constant hand； and；
almost alwayes； out of a kind of Necessity to follow the raising
of other States； yet； from time to time we shall not finde the
Rates of the raising much to differ from th