The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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1s o d re 3a J y 1h p 1y an AY a8 vii to at I in 20 MKS ais, nto eme . the vort » ATO tive n an atest In ring (ding Wd by n of RECOINAGE OF 1696 437 pains to get the maximum product out of each of the presses AD, 63 in London?; but the manner in which the work dragged on which ve gave some opportunity for political intrigue?, and offered a carried considerable field for speculative dealings in coin®, The first Drought steps were taken in the Proclamation of 19 Dec. '1695¢, hy Neen, which clipped crowns were to cease to be current after 1 Jan. 1696; provision was made for the continued use of un- clipped hammered money, which was punched and retained in circulation temporarily®; and the whole operation was con- cluded by 1 March, 1698, when all hammered money was { Haynes, op. cit. p. 138. Newton’s technical skill was also effective in exposing the mistakes in Challoner’s proposed method of coining, sb. p. 174. Haynes bears interesting testimony to his general influence on the work which was carried on under his supervision. “For 25 March, 1696, Mr Isaac Newton, publick Professor of the Mathematicks in Cambridge, the greatest Philosopher, and one of the best Men of this age, was by a great and wise Statesman recom- mended to the favour of the late King for Warden of the King’s Mints and Exchanges, for which Station he was peculiarly qualified, because of his extra ordinary skill in numbers and his great integrity; by the first of which he could judge perfectly well of the Mint Accounts and transactions, as soon as he enter’d apon his office; and by the later, I mean his Integrity, he sett a standard to the conduct and behaviour of every Officer and Clerk in the Mint. Well had it been for the Publick, had he acted a few years sooner in that Station; it’s more than probable a good part of the silver monys had been preserved by his vigilant and indefatigable prosecution, from the havock that was made upon ‘em by clipping and counterfeiting. And the Assize of our gold monys had been brought to that exactness, as to have prevented a very ill, but a very ordinary practice of picking out and remelting the weighty pieces. This was a very beneficial trade to some persons, but fatall to the Standard and increase of the publick Treasure. Since the Assize of the Coin has been more immediately a part of this Gentleman's care, wee have seen it brought to that extraordinary nicety, especially in the gold monys, as was never known in any reign before this, and perhaps cannot be parallel’d in any other Nation. So that in time we may defy the cunning and Artifice of all mankind to make any advantage by the inequality of the pieces coyn’d at the Tower. Of so great consequence to the State is the well executing the office of Warden of the Mint, and of so good consequence has the execution of it been ander this admirable Gentleman that in time he will be no less valued at Home on this account than he is admired by all the Philosophic World abroad for his wonderful advancement of the Mathematicall Sciences; by the last he has benefitted Mankind, and by the first he has done justice to the English Nation, of which he is one of the chiefest Glorys.” pp. 131. 132. * Dalrymple, op. cit. Part m1. book Iv. p. 85. 8 Evelyn, Diary, 1850 (June 11, 1696), 11. 843. Kennett, Complete History, William 111. Vol. m. p. 725. ¢ [Brit. Mus. 21. h. 8 (175)]. Permission was given to pay them to the re- ceivers of taxes till a later date, and another Proclamation was issued 4 Jan. 1696 ‘Brit. Mus. 21. h. 3 (178)), insisting that the Collectors should accept this money. ® 7W. IIL c. 1 (9). F. Philipps suggested an ingenious scheme for a temporary token currency of inferior metals. Archeologia. x111. 188.

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