TRADE OF THE C HAP. XV. 



the separation of the two ancient branches re- 

 ceived the name of bankers. 



The trade of the goldsmiths consisted, in Eng- 

 land, in exchanging the coins of foreign countries 

 with those of their own. We can scarcely con- 

 ceive in our time when, both in England and in 

 France, all the current money is of a low but 

 fixed value and of domestic coinage, of what im- 

 portance this trade must have been, without 

 bearing in mind that a grain of gold or of silver 

 at the period now under consideration, the reign 

 of Henry VII., was at least equal in value to 

 seven or eight grains in the present day, whenever 

 it was to be exchanged for corn, cloth, or any other 

 commodity. Those who exercised that trade 

 must have found it necessary to acquire such a 

 knowledge of chemistry, and such facility in per- 

 forming its operations, as could enable them to 

 decide certainly and speedily on the exact portion 

 of alloy which each piece contained, and its exact 

 weight, to the minutest subdivision of weights, 

 with the greatest accuracy. 



The far greater part of the gold money and a 

 large proportion of the silver money must have 

 been too valuable to have come into common 

 circulation. When a quarter of wheat was worth 

 four or five shillings, he who purchased a bushel, 

 or even a sack, would pay for it in copper, lead, 

 or tin money. The same must have been the 



