cm 
MONEY. 
gold will in practice become tbe principal meafure of pro¬ 
perty, and the inftrument of commerce, with the general 
confent of the people, not only without the fupport of 
law, but in l'pite of almoft any law that may be enabled to 
the contrary; for the principal purchafes and exchanges 
cannot there be made, with any convenience, in coins of 
a lefs valuable metal. In this kingdom, fo great is its 
wealth, and fo various and extenfive is its commerce, that 
it is become inconvenient to carry on many of the prin¬ 
cipal branches of trade, or to make great payments, even 
in coins of gold, the mod precious of metals: on this ac¬ 
count a very extenfive paper-currency has been called to 
its aid; but the paper can never be confidered as coin, for 
it has no value in itfelf; it only obtains its value with re¬ 
ference to the coins which it reprefents. Certain defcrip- 
tions of this paper-currency have, however, from a third: 
of gain, been carried by many, and from a love of fpecu- 
lation defended by others, to an extravagant, and, I think, 
to a dangerous, extent. Paper-currency (hould only be 
employed where payment in coins becomes inconvenient. 
“ In illuftration of the truth of what I have advanced, 
that gold is now the proper metal, of which the principal 
meafure of property and inftrument of commerce (hould 
be made, it may be obferved, that the value of filver in 
this kingdom, at the acceflion of William I. compared 
with the price of other articles, was nearly as great as that 
of gold is at prefent; the filver coins were then, and for 
two hundred and fifty years fubfequent to that period, 
the only money in currency; and the largeft piece was a 
filver penny, equal in value to fomething lefs than 3d. of 
our prefent money. The rents of the crown, as well as 
of individuals, were at that time ufually paid in kind; 
and it is natural to conclude, that there muft then have 
been but a fmall quantity of thefe filver coins in circula¬ 
tion. Every article of commerce is alfo fuppofed to have 
ancreafed in price, fince the ift of William I. at leaft fif¬ 
teen times, in the opinion of thofe, whofe eftimate in this 
refpe.ft has been the loweft ; that is, the pound fterling 
an tale has been reduced to about one-third of what it 
was at the period before mentioned ; and the price of 
every commodity, compared with the pound fterling in 
tale, has at leaft augmented in a quintuple proportion : a 
pound of gold, therefore, compared with the prefent price 
of commodities, is of about the fame value as a pound of 
filver was in the eleventh century, compared with the 
price of commodities at that early period ; and, in this 
view of the fubjeCt, the gold coin is now as well adapted 
to ferve as the principal meafure of property, or inftru¬ 
ment of commerce, as the filver coin was at the acceflion 
of the Norman prince to the throne of this kingdom.” 
In Scotland, by the articles of the union, it is appointed, 
that all the coins be reduced to the Englifh, and the fame 
accompts obferved throughout. Till that period the 
Scots had their pounds, fhillings, and pence, as in Eng¬ 
land ; but their pound was twenty pence Englifti, and the 
others were in proportion ; accordingly, their mark was 
V3vs. Scots, current in England at 13|d. their noble in 
proportion. Befides thefe, they had their turnorer pence 
and half-pence ; their penny, one twelfth of that of Eng¬ 
land ; befides bafe money of achifons,baubees, and placks 5 
the boddle, one fixth of the penny, one fourth of the achi- 
fon, one third of the baubee, and one half of the plack. 
As the baubee bore the head of James the Sixth, king of 
Scotland, when young, it has been fuppofed by fome to 
have been therefore called baubee, as exhibiting the figure 
of a baby. But Dr. Jamiefon fays, this is a great miftake; 
the name, as well as the coin, being known before that 
prince’s reign. Mr. Pinkerton derives it from the French 
bus-billon. “ The billon-coin, worth fix pennies Scotifh, 
and called bas-piece, from the firft queftionable fhape in. 
which it appeared, being of what the French called bus- 
billon, or the worft kind of billon, was now (in the reign 
of James VI.) ftruck in copper, and termed by the Scotilh 
pronunciation, bawbee." Ell'ay on Medals, vol. ii. p. 109. 
In Ireland, the coins are as in England ; viz. (hillings, 
pence, &c. with this difference, that their (hilling, or har¬ 
per, is but equal to ii^gd. fterling; or a drilling Englilh 
is equal to twenty-fix halfpence; whence their pound is 
only 18s. 4^-d. of Englilh money. 
Money in Canada (Britifti America) is reckoned at the 
following weight and currency, according to an aCt of the 
provincial parliament April 1808. 
awt. gr. /. s. d. 
Britifti Guinea - - - 56 Troy 134 
Joannes of Portugal - - 18 o -— 400 
Moidore ditto - - - 618 — *** 1 10 o 
American Eagle - - 116 —— 2 10 o 
When weighed in bulk, the rate is currency 4I. 9s. per 
oz. Troy. 
Milled doubloon, or 4-piftole piece, 17 o - 3 14 6 
French Louis d’or, coined before 1793, 5 4 - 128 
French piftole, ditto - - 4 4 ■ 018 3 
When weighed in bulk, the rate is 4I. 7s. 8-td. currency 
per oz. Troy. In every payment exceeding the fum of 
20I. if one of the parties require it, gold is to be weighed 
in bulk, and pafs at the above rates ; and a deduction of 
half a grain Troy is"to be made on every piece of coin fo 
weighed, as a compenfation to the receiver for the lofs he 
may fuftain in paying away the fame by the (ingle piece. 
The filver Coins are Canadian Currency. 
. . ' *• *1 
Spanifh piafter, or dollar - - -50 
French crown of 6 livres, or Englilh crown 5 6 
Ditto — - ■ ■ of 4 livres 10 fols - - 42 
Englilh (hilling, or French piece of 24 fols - 1 1 
Efcalin, or piftoreen - - - - 1 o 
French piece of 36 fols - - -18 
The copper coin in circulation is Englilh. The half¬ 
pence are called Jbls by the French, and coppers by the Bri¬ 
tifti. To bring fterling money into Canadian currency, 
\ muft be added ; to bring currency into fterling, -Jg de¬ 
ducted. Lambert's Trav, thro' Canada . 
Tabl£ 
