A. D. 



'35'- 543 



tlon in life. From thefe ill-judged laws, however, we learn a mofl im- 

 portant fa6l, that a great portion of the lower clafs of the people were 

 now emancipated from bondage, and earning their bread by independent 

 induftry. 



It being evident to every perfon, who was willing and capable to 

 think, that the evil proceeded more from the defalcations of the money 

 than the fcarcity or perverfenefs of labourers *, the parliament enacted, 

 that no further diminution fhould be made in the weight or quality of 

 the money, but, on the contrary, it fliould be reflored as foon as pof- 

 fible to the antient weight. [Stat. 5, 25 Ediv. Ill, c. 13.] However, 

 William Edington bifhop of Winchefter fell upon a frefh device, where- 

 by, he thought, the deception would be lefs perceptible, which was to 

 introduce a new kind of filver money much larger than a penny, which 

 was called a gros or groat, and the king ordered, (June 21") that ic 

 Ihould be current for four pennies f , though it weighed fcarcely more 

 than three pennies and a half of his diminiflied money :^. The imme- 

 diate confequence was a further rife in the nominal prices of the ne- 

 cellaries of life, and another confequence, naturally following the firfl, 

 was an increafe of cunning and fraudulent tricks among workmen and 

 artificers. Edward, neverthelefs, urged by the preffure of his accu- 

 mulated debts, and having tailed, what he fuppofed, the advantage of 

 making a great quantity of money out of a fmall quantity of filver, 

 proceeded in the year 1353 to make feventy-five groats, or tbree hun- 

 dred pemiies^ {twenty-five JJydlings) from the pound of filver, which till 

 the later end of his grandfather's reign had never been coined into 



* As the peftilence dimJnifhed tlie number of new money in payment of their old debts. And, 

 employers as well as labourers, though perhaps ra- becaufe the money of England is forged, clipped, 

 ther in a lefs degree, the demand for labour could and carried out of the kingdom, by the Lombards 

 not be vei-y much greater than before, and would and others, he llriflly commands, that no perfon 

 have probably had no effect upon the rate of wages, except thofe appointed by himfelf, (hall prefume 

 if the proportion between money and food had to deal in changing money, on penalty of forfeit- 

 continued tiie fame. But, however flrange it may ure of the money changed ; and that no perfon, 

 feem, the king, the parliament (except in tiiis one (hall carry out of the kingdom any gold or filver, 

 iuftance) and the writers of the age, afted and coined or uncoined, except only the new (light) 

 wrote, as it ihcy thought it was equal to the la- money. \_Ficdera, V. s, p. 708. j It is very llrange 

 bourers, if they had their number of pennies, whe- indeed, if Edward did not know, that foreign 

 ther they were heavy or light. Could they pof- merchants would pay no attention to the nominal 

 fibly be ignorant, that the diminution of the mo- value he might be pieafcd to put upon his coins, 

 ney, and the confcquent alteration in the price of and in fetting prices upon their goods would only 

 neceffaries, robbed thefe poor people of about a confider the quantity of real gold or filver, which 

 quarter of their incomes ? they would be allowed to carry home. 



•f- On this occafion a proclamation, or manifefto, 1 have called the groat a new kind of money in 



was iffued by the king, wherein he lets forth, that, compliance with the king's proclamation and the 



finding the money of England was exported on writers of that age, though I have already (how- 



accouut of its being too heavy, he had ordained, ed, (p. 432) that fome fuch pieces were coined by 



for the profit of himfelf and his people, to coin King Edward I. 



gold money of fuch imprefTion as the former, and J Fabyan favs, the»filver of the new groats 



a new kind of filver money, which (liould be call- wanted 2j'''> in the pound of the old ftandard qua- 



ed a gros of the value of four pennies, and alio a lity. 

 half gros. He orders all pcrfons to receive his 



