Crown (currency)

“ The crown is neither more nor less than the common one, surmounted by three fleurs-de-lis, which, had a native origin been sought for it, might have been seen along with the Maltese or Greek cross patée, referred to in the same article, on almost any Scottish silver coin from Malcolm Canmore to James IV., when it is for the first time superseded on our native currency by a close crown. It is no less common on contemporary English, and indeed European coins; and as an argument, one way or other in the present question, is utterly valueless. ”

“ The sense of honor of a nation is the source of its credit, and its credit is one of its best paying investments.
The second prerequisite of a revival of business and prosperity I stated to be a sound currency, a currency of real and stable value. Let me put to any thinking man in this assembly, be he farmer, or laborer, or tradesman, or merchant, or banker, or manufacturer, a plain, simple question, and ask for a candid answer. ”

“ Will the reader believe that with gold at a hundred and twenty-five for one, or twelve thousand four hundred per cent. premium; when every day made the hopelessness of the struggle more apparent; when our last man was in the field; when the resources of the country were visibly at an end, there were financial theorists who honestly believed that by a mere trick of legislation the currency could be brought back to par? ”

“ I thought of the tired man haunting the docks in search of a ship, often aching with hunger and at night sleeping in a shed, and yet all the time with a piece of gold in his pocket which he would not change in order that I might have it.
A coin is an emblem of wealth, but this gold piece is an emblem of a rarer currency, of that wealth which is—in a peculiar sense—"beyond the dream of avarice," a something that no money could buy, for what sum could express the bounty or the sentiment of this generous heart? ”

“ For they apperceiving the new coin of gold to be better than the new coin of silver that was made to counter value it, picked out all the gold as fast as it came forth of the Mint and laid that aside for other uses, so that now ye have but a little more than the old current, and so both the King's highness is deceived of his treasures, and the thing intended never the more brought to pass, and all is because there is no due proportion kept between the coins, while the one is better than the other in his degree. ”

“ That as money is a defence as well as wisdom, a circulating medium ought to be established, consisting of gold, silver, copper, and bills of exchange. Its credit should be kept up, and but one currency established in a kingdom. ”

“ At every marriage, and at every birth, get a new piece of gold or silver if you will, but with noble workmanship on it, done for all time, and put it among your treasures; that is one of the chief things which gold was made for, and made incorruptible for. When we know a little more of political economy, we shall find that none but partially savage nations need, imperatively, gold for their currency ”

“ Ceremonial is a true paper currency, and passes only as far as it will be taken. The representative of a thousand pounds, unbacked by credit, is a worthless rag of paper, and the highest decoration which the king can confer, if repudiated by opinion, is but a piece of blue riband. ”

“ The gold and silver currency is not so pure nor so fine as it was before heresy entered into the kingdom, for in the time of Henry VIII and his children Edward and Elizabeth, it has been falsified and alloyed with other metals, and so the money is worth much less than it used to be. ”

“ This is not the time nor the occasion for an essay or dissertation on money; but I mean distinctly to express the opinion, that until the general government shall take in hand the currency of the country, until that government shall devise some means, I say not what, of raising the whole currency to the level of gold and silver, there can be no prosperity. ”

“ Carrying cash meant carrying coins. At any rate, not one of these travellers mentions using the bank-notes of the day, the 'segni reppresentativi' just introduced by the Italian bankers, nor even the ancient semi-currency of jewels, unless one includes Henri III, who, when escaping from the throne of Poland to that of France, carried off three hundred thousand crowns' worth. Carrying coins for future use meant, in the ordinary way, sewing them up in one's clothes. ”

“ A kingly crown is the price which some demand; a high office the price of others. The crosier or the triple crown is one man's price; the smile of a fair lady is another's; the sordid soul requires mere money; and this Landais, this Breton peasant, risen to be the minister and ruler of his imbecile prince, sells the duke's honour and his own for hard gold, Ha, ha, ha! ”

“ Pennies, sixpences, shillings, two-shilling pieces, half-crowns, crown pieces, half-sovereigns, and sovereigns are all here, the most popular, however, amongst the fraternity being the shilling, two-shilling piece, and half-crown, as people, when they accept change, are less likely to "try" these than coins of a higher value. There are some coins here, however, which positively call for respect. These George IV. half-crowns are perfect. The King's head is partially worn away by time—grit and dirt, from constant use of seventy years, are lodged in the creases of the coin. ”

“ Speaking on the same theme, paper money, Governor Johnston said: "Every man of property - every man of considerable transactions, whether a merchant, planter, mechanic, or of any other condition - must have felt the baneful influence of that currency." ”

“ Nevertheless, as an instrumentality for transferring commodities used for money, and avoiding the loss and waste unavoidable in handling and transporting such commodities, the currency thus devised was a great invention, and being always represented by, or, as we may express it, covered with, the commodity—gold—which, of all things, fluctuates least in value, it perfectly answered the purpose of money, without actually being so. ”

“ A national currency thus based would have not only all the gold of the country as a basis, but also all other kinds of wealth. Is it not perfectly plain that such a money would be just so much better than common bank notes, with a one-third gold basis, as the total amount of the wealth of the country is greater than such amount of gold? It would be in the most complete sense the people’s money. ”

“ I must have lost a small fortune in the course of my money-changing transactions, therefore am I a most determined adherent of a uniform system of coinage for all civilized nations; and that coinage, I maintain, should be decimal. Fancy a foreigner getting small money for a sovereign after he has incurred a debt of one and sixpence for a hot salt-water bath on the South Coast! The fair attendant offers him a crown-piece, two half-crowns, two florins, two shillings, two six-pences, two groats, two threepenny bits, a postage stamp, a wheedling simper and a charity-bob. ”

“ How far gold may be eventually permanently depreciated by the addition of five hundred millions, to the specie currency of the world, is a question for financiers, and those who have gold enough to care about the value of it ”

“ Currency is a word much more comprehensive than the word money, as it may include bank bills and even bills of exchange as well as coins of gold and silver, but the word money, as employed in the grant of power under consideration, means the coins of gold and silver, fabricated and stamped as required by law, which, by virtue of their intrinsic value, as universally acknowledged, and their official origin, become the medium of exchange and the standard by which all other values are expressed and discharged. ”

“ And will not this gold be the source of a number of new satisfactions, by circulating from hand to hand, and inciting to labour and industry, until at length it leaves the country in its turn, and causes the importation of some useful thing?
F. Now you have come to the heart of the question. Is it true that a crown is the principle which causes the production of all the objects whose exchange it facilitates? It is very clear that a piece of five francs is only worth five francs ”

“ These gold coins, being of more value than that amount of gold on the continent, were rapidly exported, and the value of the finest gold was then raised from thirty-three pounds ten shillings to thirty-seven pounds four shillings and sixpence. The next coinage at this value consisted of a twenty-shilling piece called the unity, ten shillings called the double crown, five shillings or the Britain crown, four shillings or the thistle crown, and two-and-sixpence or half-crown. ”

“ That we are in favor of a sound national currency, adequate to the demands of business, and convertible into gold and silver at the will of the holder, and the adoption of every measure compatible with justice and public safety to appreciate our present currency to the gold standard. ”

“ Our monarchs, involved in great wars, while their crown lands had melted away into the hands of their barons, and these barons had ceased to yield their proper feudal services, were reduced to the greatest extremities for money, and fell, one after another, into the hopeless practice of endeavouring to make more money out of the little they had. They vainly expected that if the name and dimensions of a coin remained the same, the public would permit it to be treated as of the same value. ”

“ The financiers of that age seem to have expected that the new money, which was excellent, would soon displace the old money which was much impaired. Yet any man of plain understanding might have known that, when the State treats perfect coin and light coin as of equal value, the perfect coin will not drive the light coin out of circulation, but will itself be driven out. A clipped crown, on English ground, went as far in the payment of a tax or a debt as a milled crown. ”

“ No silver-standard country has a gold currency in circulation, but an enlightened and wise system of finance secures the benefits of both gold and silver as currency and circulating medium by keeping the standard stable and all other currency at par with it. ”

“ Expand the currency until the gold premium is thirty, and you have filched away $4,500,000 a year from what the Republic considers a debt of honor, and robbed the wounded and the widows and orphans of so much of their sustenance. ”

“ The people of these back counties have lately complained to the Assembly that a sufficient currency was wanting; you have an opportunity of receiving and dividing among you a very considerable sum; for, if the service of this expedition should continue, as it is more than probable it will, for one hundred and twenty days, the hire of these waggons and horses will amount to upward of thirty thousand pounds, which will be paid you in silver and gold of the king's money. ”

“ And as for recovering of old treasure that [Pg 128] is already gone, there might be order that some commodity of ours were so restrained from them that it should not be sold but for silver or gold, or for the third-part or half in such coins as is universally current, and thus chiefly our treasure might be recovered by the use of means. ”

“ The sixth coins or moneys of gold, being sovereigns, half-sovereigns, crowns, half-crowns, called the polled heads, are better than the current value, in every pound four pence, in every hundred pounds 33s. ”

“ However, as the gold is being constantly needed, and there is nothing else with which to meet the salaries and other necessary obligations, it is, when there is a lack of coin, distributed at the common value—although, as I have said before, a somewhat higher value is given to your Majesty's gold. ”

“ When gold is worked the 'squire' takes his royalty from the miner, and he or his chiefs must in turn pay tribute to the 'king.' Hence the money may pass through three or four hands before reaching its final destination. ”

“ It is the goldsmiths, especially those in Lombard Street, which are the greatest merchants, and London cashiers, and who will receive any man's money for nothing, and pay it for them the same or next day, and meantime keep people in their upper rooms to cull and weigh all they receive, and melt down the weighty, and transport it to foreign parts, sometimes without melting, and keep banks for all the principal coin in Christendom in their shops. ”

“ The continued depreciation of currency in the affected countries, is one of the causes of the many grievances. No remedy has yet been discovered for it, but it must be apparent to everybody, that the most precious treasure possessed by man, is not GOLD, but "WORK"! ”

“ Currency, however fabricated, regulates value; and value, if left free, regulates currency, when it is used to facilitate exchanges; but when it is used to transfer property without compensation, it becomes an instrument in the hands of legislation, for fostering local and personal avarice. ”

“ The silver currency doubled in a year; four millions of gold coins in half a year; exchanges reduced to the lowest and most uniform rates; the whole expenses of Congress paid in gold; working people receiving gold and silver for their ordinary wages. ”

“ The next year he brought out the new silver coinage for the United Kingdom (half-crown, shilling, and sixpence) , designing the reverses himself. In 1817 he struck the maundy money, and began to make his pattern crown-piece in rivalry of Thomas Simon [q. v.] ”