f;^4 A. D. 1367. 



ney to Calais at his own expenfe. The bargain was ftruck for the landt 

 and 100,000 florins. [Fadera, V. vr, pp. 547, 564] We have here a 

 notable proof of the vaftnefs of the mafs of the pretious metals circul- 

 ating in Italy at this time, the fruit of flourifhing commerce and ma- 

 nufadures : for it is idle to fuppofe, tliat any great proportion of the 

 wealth of Italy could be acquired by the trade of lending money upon 

 ufury or intereft, as fome have aflerted. Produdive induftry mufl ne- 

 cefTarily provide the funds for the payment of intereft, which, unlefs 

 in the cafe of intereft paid by the ftate, and provided for by national 

 eftates or taxes *, is truely a participation of profits between the pro- 

 prietor of the capital and the adual condudor of the bufinefs fupported 

 by that capital. 



June i" King Edward licenced a German merchant to import eight 



horfes from Flanders, and to fell them for his beft advantage in Eng- 

 land, or to carry them to any other country, except Scotland, to which 

 he did not allow any horfes to be taken out of England f . [Fadtra, V. 

 vi, p. 566.] 



The parliament of Scotland had in the preceding year ordered the 

 money of the kingdom to be coined of the fame quality and weight 

 with that of England, viz. twenty-five fliillings out of the pound of 

 ftandard filver. But this year, confidering the fcarcity of filver money, 

 and thinking, according to the ftrange erroneous notion of the age, that 

 it was in their power to increafe the quantity of it, merely by diminifti- 

 ing its intrinfic value, they ordered that the pound of filver fliould be 

 coined into twenty-nine fhillings and four pennies, or rather (as there 

 were no fuch coins as fliillings) into 352 pennies, pennies with their 

 halves and quarters, together with fome groats and half groats, being 

 hitherto the only filver coins ftruck either in Scotland or in England. 

 They alfo ordered that no perfon, whether native or foreigner, ftiould 

 carry any money of gold X or filver out of the kingdom, except what 

 might be fufficient for his neceflary expenfes, without paying a duty of 



* IntereR arifing from national eftates or taxes X I' '^ geneially agreed, tliat no gold money 



does not crirlcU the comnMinity, as it only transfers was coined in Scotland before the reign of Ro- 



moiiey from one hand to another, generally within btrt II, the fucceflor of David II. if the Iaw« 



the fame territory. But manufaftures and com- of David II, pulililhed by Skene, were unquellion- 



mercc enrich the country by money drawn from ably genuine, here would be a proof, or at lealt a 



foreigners; and of the wealth fo acquiied, this ftrong prtfumption, that he coined gold. — But the 



marriage portionl and the one given by the duke laws are not to be depended upou ; and I even 



of Brabant to King Edward in the year 1339, are hcfitate in tranfcribing the regulations concerning 



illuftrious examples and proofs. the Scott ifh money, though fiipported by the ex- 



+ When Lionel went from England to marry ample of the diligent and accurate Ruddiman. 



the daughter of Galeae, he took with him 1,280 Sec his learned Preface to Amieifms D':plomata et 



hoifts though he nad only 547 men, and was go- tiumifmuta Scoliit. The anllent laws ol Scotland 



ing to I.ombardy, a country from which England Rand much in need of a new edition ; but the 



ufcd to import horfes. On that occafion the king work ou^ht to be undertaken by an editor, very 



alfo fent fome horfes as a prefent to Galtaz. [Fad- different in knowlegc »nd induftry from Skene. 



era, V. vi,/. 590 Mad'jxs MS. Coll. F. i./- 63, 



IB Muf. Brit.^ 



