[The History of England from the Accession of James II. by Thomas Babington Macaulay]@TWC D-Link book
The History of England from the Accession of James II.

CHAPTER XII
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He could, he conceived, at once extricate himself from his financial difficulties by the simple process of calling a farthing a shilling.

The right of coining was undoubtedly a flower of the prerogative; and, in his view, the right of coining included the right of debasing the coin.

Pots, pans, knockers of doors, pieces of ordnance which had long been past use, were carried to the mint.

In a short time lumps of base metal, nominally worth near a million sterling, intrinsically worth about a sixtieth part of that sum, were in circulation.

A royal edict declared these pieces to be legal tender in all cases whatever.


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