igoS.] COPERNICUS AND GRESHAM. 21 



tarum," was often referred to before that time. But in every case 

 before Roscher saw Oresme's work in manuscript, the examiners of 

 Oresme's learned and lucid treatise failed to grasp its real impor- 

 tance. When, however, it came under the eye of Roscher, a trained 

 economist, he saw at once the profound significance of the work. 

 Under the title of " A Great French Economist of the Fourteenth 

 Century," Roscher called the attention of the world to Oresme's 

 treatise on money. Two years later the French naturalized Pole, 

 Louis Wolowski, also signalized to his adopted country the work 

 of the fourteenth century economist.^ 



Nicole Oresme, who may be looked upon as the first scholar, so 

 far as we now know, to expound comprehensively money as the 

 mechanism of exchange, was by birth a Norman. He studied at 

 the University of Paris, where he was classed in the Norman nation. 

 At the university, Oresme was reputed to be the most able and 

 learned in his knowledge of the sciences and the fine arts. He trans- 

 lated at the request of Charles the Fifth the " Ethics," " Politics," 

 and other works of Aristotle. He delivered at Avignon on December 

 24, 1363, before Pope Urban the Fifth and the members of the 

 sacred college a sermon in which he censured the high clergy of 

 France. Charles also commissioned him to translate the Bible, in 

 order that this vernacular version might be opposed to that of the 

 Waldensians. 



When Charles the Fifth succeeded to the throne of his ancestors, 

 the French, crushed by what was for those times an enormous debt, 

 were groaning under the weight of the accumulated mismanagement 

 of previous rulers, and the " royaume des lys" had shrunk to small 

 proportions before the English invasion, and was fast disappearing 

 in misery and anarchy. Owing to the capture of Charles's father. 

 King John, by the English, Charles was called upon to act as regent. 

 During those years he learnt much which later as king he put to 

 valuable practical use. Reigning from 1364 to 1380 under the title 

 of Charles the Fifth, he was, for his able management of the affairs 



' " Traictie de la premiere invention des Monnoies de Nicole Oresme " 

 textes frangais et latin d'apres les manuscrits de la Bibliotheque Imperiale 

 at " Traite de la Monnoie de Copernic," texte latin et traduction f ranijaise 

 publics et annotes par M. L. Wolowski, membre de I'lnstitut. Paris, Guil- 

 laumin et Cie., 1864. 



