Front Page Titles (by Subject) NOTE ON SCOTCH MONEY, WITH TABLES Showing the Successive Changes in the Standard IN THE WEIGHT OF THE COINS, AND IN THE Relative Values of Gold and Silver, From 1107 to 1707, WHEN SCOTLAND CEASED TO HAVE A PECULIAR COINAGE. - A Select Collection of Scarce and Valuable Tracts on Money
NOTE ON SCOTCH MONEY, WITH TABLES Showing the Successive Changes in the Standard IN THE WEIGHT OF THE COINS, AND IN THE Relative Values of Gold and Silver, From 1107 to 1707, WHEN SCOTLAND CEASED TO HAVE A PECULIAR COINAGE. - John Ramsay McCulloch, A Select Collection of Scarce and Valuable Tracts on Money 
A Select Collection of Scarce and Valuable Tracts on Money from the Originals of Vaughan, Cotton, Petty, Lowndes, Newton, Prior, Harris, and Others, with a Preface, Notes, and Index (London: Printed for the Political Economy Club, 1856).
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- Vaughan, a Discourse of Coin and Coinage
- Chap. I.: Of the First Invention and Use of Money.
- Chap. II.: Of the Matter of Money.
- Chap. III.: Of the Forms of the Money Anciently and Now In Use.
- Chap. IV.: Of the Proportions Held Between Gold and Silver, Antient and Modern.
- Chap. V.: Of the Raising of the Price of Money Both of Silver and Gold.
- Chap. VI.: Of Base Money.
- Chap. VII.: Of the Inconveniences In General Grown In the Matter of Money.
- Chap. VIII.: Of the Low Price of Our Silver.
- Chap. IX.: Of the Prohibition of Forrein Moneys, Especially Spanish.
- Chap. X.: Of the Unequal Coinage of Our Moneys.
- Chap. XI.: Of the Great Increase of the Proportion Between Gold and Silver, and the Things Valued By Them; By Which There Is Grown a Greater Want of Money In England Than Was In Antient Times, and of the Causes Thereof, and of the Remedies Which May
- Chap. XII.: Of the Raising of the Price of Moneys By Our Neighbours, and the Defect of Our Not Raising of Our Moneys Accordingly.
- Chap. XIII.: Of the Benefits Which Do Grow Unto the State By the Raising of Moneys, and the Prejudices Which Do By Not Raising of It.
- Chap. XIV.: The Benefits Which Do Grow to the State By the Not Raising of Money, and the Prejudices Which Do Grow By the Raising of It.
- Chap. XV.: Examinations of the Reasons For the Raising of Money.
- Chap. XVI.: Examinations of the Reasons For the Not Raising of Money.
- Chap. XVII.: Of Contracting With Forrein Nations By Ambassadors to Keep Their Moneys At a Certain Standard.
- Chap. XVIII.: Of the Ordaining of Solid Payments.
- Chap. XIX.: Of Equalizing the Exchange.
- Chap. XX.: Of Reducing Moneys to the Lowness of Ancient Values.
- Chap. XXI.: Of Raising Our Moneys According to the Raising of Our Neighbours.
- Chap. XXII.: Of Introducing Two Different Species of Money.
- Chap. XXIII.: Of Coining of Moneys Without Distinction of Weights.
- Lord Coke’s Account of Coin and Coining.
- Cotton, a Speech Touching the Alteration of Coin.
- The Answer of the Committees Appointed By Your Lordships to the Proposition Delivered By Some Officers of the Mint, For Infeebling His Majesties Monies of Gold and Silver.
- The First Part. the Preamble.
- Questions to Be Proposed to the Merchants, Mint Masters, and Goldsmiths Concerning the Alteration of the Silver-monies.
- Certain General Rules Collected Concerning Money and Bullion Out of the Late Consultation At Court.
- Advice of His Majesty’s Council of Trade, Concerning the Exportation of Gold and Silver In Foreign Coins and Bullion. (concluded December 11. 1660.)
- Reasons Aud Arguments For the Free Exportation of Gold and Silver In Foreign Coin and Bullion.
- Sir William Pettys Quantulumcunque Concerning Money, 1682.
- A Report Containing an Essay For the Amendment of Silver Coins
- The Second General Head Concerning the Present State and Condition of the Gold and Silver Conis.
- The Third General Head Discusses This Question, Whether It Be Or Be Not Absolutely Necessary At This Time to Re-establish the Coins.
- The Fourth General Head Is to Propose the Means That Must Be Obtained, and the Proper Methods to Be Used In and For the Re-establishment of the Silver Coins.
- The Fifth General Head Considers What Must Supply the Commerce, Pay Taxes, &c. Whilst the Clipt Money Is Under Its New Fabrication.
- In Quodam Libro Vocato Nigro Scripto Tempore Regis Henrici Secundi, Per Gervasium Tilburiensem, De Necessariis Scaccarii, Remanente In Curia Receptæ Scaccarii, Inter Alia Sic Continetur.
- A Computation of the Common Weight of a Hundred Pounds By Tale, In Ordinary Silver Money At This Day, Taken From a Medium of the Bags, Weighed At the Receipt of Exchequer, In May, June, and July Last.
- Note On the Re-coinage of 1696-99.
- Representations of Sir Isaac Newton On the Subject of Money. 1712-1717.
- Representation First
- Representation Second.
- Representation Third.
- Tables Illustrative of the Successive Changes In the Standard, In the Weight of the Coins, and In the Relative Values of Gold and Silver In England, From the Conquest Down to 1717.
- Note On Scotch Money, With Tables Showing the Successive Changes In the Standard In the Weight of the Coins, and In the Relative Values of Gold and Silver, From 1107 to 1707, When Scotland Ceased to Have a Peculiar Coinage.
- Observations On Coin In General, With Some Proposals For Regulating the Value of Coin In Ireland.
- Essays On Money and Coin I
- Part I.: The Theories of Commerce, Money, and Exchanges.
- Chapter I.—: Of the Nature and Origin of Wealth and Commerce.
- Chapter II.—: Of Money and Coins.
- Chapter III.: Of Exchanges.
- Essays On Money and Coin Ii
- The Preface.
- Part II.
- Chapter I.: A Summary Account of All the Alterations That Have Been Made In Our Standard of Money, From the Norman Conquest to the Present Time, With the Opinions of Some Very Eminent Men Upon Those Kinds of Measures.
- Chapter II.: The Established Standard of Money Should Not Be Violated Or Altered, Under Any Pretence Whatsoever.
- Postscript. of Standard Measures.
- Reflections On Coin In General
- Raper, an Inquiry Into the Value of the Ancient Greek and Roman Money.
- § 1.: Of the Attic Drachm.
- § II.: Of the Eginean and Euboïc Talents.
- § III.: Of the Roman Money.
- § 4.: Of the Value of Gold In Greece and Rome.
- § V.: Of the Value of the Ancient Greek and Roman Money.
- Tables Showing the Denominations of the Principal Greek and Roman Coins, and Their Values In Sterling Money,
NOTE ON SCOTCH MONEY, WITH TABLES Showing the Successive Changes in the Standard IN THE WEIGHT OF THE COINS, AND IN THE Relative Values of Gold and Silver, From 1107 to 1707, WHEN SCOTLAND CEASED TO HAVE A PECULIAR COINAGE.
The English derived their system of coinage from the French, and the Scotch theirs from the English. From 1107 to 1355, the coins of both divisions of the island were of the same size and purity. But, at the last mentioned period, it was attempted to fill up the void occasioned by the remittance of the ransom of David II. to England, by degrading the coins. Till then the money of Scotland had been current in England, upon the same footing as the money of the latter; and the preservation of this equality is assigned by Edward III. as a reason for his degrading the English coins. But this equilibrium was soon afterwards destroyed. In the first year of Robert III. (1390), Scotch coin passed only for half its nominal value in England; and, in 1393, Richard II. of England ordered that its currency as money should entirely cease, and that its value should thenceforth depend on the weight of the genuine metal contained in it. “To close this point at once,” says Pinkerton, “the Scottish money, equal in value to the English till 1355, sunk by degrees, reign after reign, owing to succeeding public calamities, and the consequent impoverishment of the kingdom, till, in 1600, it was only a twelfth part of the value of English money of the same denomination, and remained at that point till the union of the kingdoms cancelled the Scottish coinage.”
The annexed tables exhibit the successive degradations of the Scotch Silver and gold coins.
At the Union, in 1707, it was ordered that all the silver coins current in Scotland, foreign as well as domestic, except English coins of full weight, should be brought to the Bank of Scotland, to be taken to the mint to be recoined. In compliance with this order, there were brought in,
|Of foreign silver money (sterling),||£132,080||17||9|
|Milled Scottish coins,||96,856||13||0|
|Coins struck by hammer,||142,180||0||0|
|English milled coin,||40,000||0||0|
Ruddiman conjectures, apparently with considerable probability, that the value of the gold and silver coins not brought in, amounted to about as much more. Much suspicion was entertained of the recoinage. And that large portion of the people who were hostile to the Union, and did not believe in its permanence, brought very little money to the Bank. A few only of the hoarded coins have been preserved, the far greater part having either been melted by the goldsmiths, or exported to other countries.
Account of the number of pounds, shillings, and pennies Scotch, which have been coined out of one pound weight of silver at different times; with the degree of purity of such silver or its fineness, from the year 1107 to the year 1601. (From Ruddiman’s Introduction to Anderson’s “Diplomata.”)
|ad||Anno Regni.||Purity.||Alloy.||Value of money coined out of a lb. of silver.|
|1107||Alexander I }||11||2||0||18||1||0||0|
|David I }|
|to||Alexander II }|
|Alexander III }|
|1296||John Baliol }|
|From }||Robert I||11||2||0||18||1||1||0|
|From }||Robert II||11||2||0||18||1||9||4|
|1488||James IV||1 }||11||2||0||18||7||0||0|
Account of the number of pounds, shillings, and pennies Scotch, which have been coined out of one pound weight of gold, with the degree of their purity, and the proportion that the gold bore to the silver. (From Ruddiman’s Introduction to Anderson’s “Diplomata.”)
|ad||Anno Regni.||Fineness.||Alloy.||Value of the coin coined out of one pound of gold.||Pound of pure gold weighed of pure silver.|
|oz. pw. gr:||oz. pw. gr:||L. s. d.||lb. oz. pw. gr:|
|1371, etc.||Robert II. . . .||11||18||18||0||1||6||17||12||0||11||1||17||22|
|1390, etc.||Robert III. . .||11||18||18||0||1||6||19||4||0||11||1||17||22|
|1424||James I. . . 19||11||18||18||0||1||6||22||10||0||11||1||17||22|
|1451||James II. . . 15||11||18||18||0||1||6||33||6||0||9||8||4||14|
|1475||James III. . 16||11||18||18||0||1||6||78||15||0||10||2||0||20|
|1488||James IV. . . 1||11||18||18||0||1||6||78||15||0||10||5||7||9|
|1529||James V. . . 16||11||18||18||0||1||6||108||0||0||10||5||7||9|
|1556||Mary . . . . . 14||11||0||0||1||0||0||144||0||0||10||5||8||6|
|1577||James VI. . 10||11||0||0||1||0||0||240||0||0||10||5||8||6|
|1633||Charles I. . . 9||11||0||0||1||0||0||492||0||0||13||2||7||11|
For regulating the
Value of Coin
By the Author of the List of theAbsentees of
Printed by A. Rhames, for R. Gunne, in Caplestreet. M DCCXXIX.