The Sun.
London, England, 1811-04-26 00:00:00

THE COIN OF TIM REALM:

EsSoLUTIoNS INTENDED TO 82 kaoFosEb BY MR:
110fibtElt iti THE HOUSE or COitiMoNs.
',That the only money which can be iegan)i
.
tendered in Great Britain, for any sum above I kt, rveo
pence ib the whole, is made either of gold or silver
'':-tutd that the weight; standard, and deenedna, ton,
at which any such itioney rS anthorisei to pass cur.;
reot, i* fixed, under his Majesty's prertiigativtrt,
cording to law.
2. That since the 43d year of the reign of Queer')
Ellzabeth, the indentures Of his Alifiesty't Mint
hmie uniformly, dire6ted, that all silver used for r Our
shOUld cuninat of it oz. edwts. of tine silver, tired
18 dwis. ot alloy in each pound troy,- and that the
said pound troy should he divided Into 62 shiilin.;s,
or into other coins iri t hat proportiOn.-
. 3. That since the t6th year of the reign of Xint
Charles. the IN, -the indentures, of his Maje*ty'a
Mint have uniformly directed, that all gold used
for coin shindd Consist Of I foz. of pure gOld, arid
of alloy,. in each p-und troy ; and /that tie'
said pound troy should be divided and coined'inio
44 guineas 'and one haltgoinea, or into other coins
hat proportidn.
4:- That by a' P.oclamatton of the 4th 3,earof the:
reign of King George the First, it was ordered and
direcitd„ that gllineff4, find the several other gold
coins therein named, slmold b..: current at the talcs
and values th-n set upon them, viz, the gUidea At 1114
:rate of 21 shillinit,s, and oiler gold coins in the
same proportion ; thereby establishing, that the gold
and silver coins of the realm should be a legal per der
in all money payments, and a standard measure for,
ascertaining the value of all coati a(ls for the pay.
meat of money, in the relative pro Portion of
15 2859 13640 pound weight or kerling silver to
one pound Of sterling gold.
6. That by a Statute of the 14th year of the
. #
reign of his
.present Majesty, subsequently revived
and made perpettt,d' by a Sta. Lite of the sotlnyero of
his reign, it is enacted, that no tender in pay merit
ot money Made in the silver coin of tins realm, of
any sem exceeding the sum of usl. at any One tune,
be reputed in law, or allowed to,_be legal tender,'
.Great Britain or Ireland, for more than tic.i;
cording, to its valve by weight, after the rate of ZS.
2d. for each ounce of sil vet.
6. That by a Prodarnat ion of the 16th' year ot
his present•Majesti,, 'confirmed by several suhse- •
qtrent .13int:latirations, it was ordered and.directedi
that if the; weight of any guinea shall be less thah
adi.ks. set. such guinea shall cease to be a legal.
tender for ;he payorert of arty morrry wit hi l Gre.it
Brit.iin or Irel.indr and so in the same prop4tion
for any other gold colt,. ,
7. That under th-se laws (whiCh*Constitute the
established policy of this realm; In regard ro money),
no contract or undertaking for the payment of
money, stipulated hr he paid in pounds str.rnn,:, or
in good arid money of Great Britain, (Ali
be legally satisfied and discharged in. fold Coin, till•
li-ss,the coin tendered Shall weigh m properly() of
'2o•e pans of 6dwt's egrs. of standard gold fur each
posited sterling; specified An the said contrati ; nor
iii silver coin for a sum exceeding t.`sl. unless
*Celli shall Neigh in the prOportiotCof 26-62 cf
pound cloy of standard silver (or each pound sier-
ling specified n 'the ciattraet.
8: That the promissory notes of 'the 13,r'ilt
England tire stipohnioni to pay, oh demziud, iho
sum in pounds %tcrling respectively sdecifirtel fn (Nell
of the said notes.
9. Thai when it was enacted I,y he authoriq of
Parliament, that the payment ot the promissory
notes ofilithe Bank of En4land in cash should for a
time be suspended, it was not the intention of Par-
hainent that any alteration whatioever takb
place in the value of such promissory notes.
fo..Tirat it appears that the actual value of the
promissory notes of the Bt'lnk of England (meaSnring
such value by weight of standard gold and silver ns
aforesaid) has been, for iconsiderable period of
'time, and still is, consitlerakly less tliFll what i;
established by the laws of the Realm' lb' be the legal
tender in.payment of any money, contract, or ill:.
pulation. , -
That they has thus taken- place in
the value of the promissory elates of the Bank of.
England, and in that of the country bank' paper
which is exchangeable for it, has beets
Oeumonrd
by too abundant issue of paper currency, both by the
Bank of. England and by the country banks; and
that this excess has originated from the wirnt of4hat
cheek` and controul on the Issues of the Battl of
England, %Odell etisted before' the suspenslen
cash payments.
2. That it, appeArs that the .exclenigett—With
reign I arts ItiVe, for a considerable period of time,
been unfavourable to this eoantry an extraoiditurry
degree. ' •
13. That, although the adverse circurnatanees cif
our trade, together with the large amount Of our
niilintry expenditure abroad, may have contributed
to render oar 'Exchanges 'with the Continent GI lug
ripe unfavourable;' yet the extraordinary degree iii
which the Exchanges haVe beee depressed for so tong
a period, has been in a great 'measure octasioned ny
the depreciation' which teti taken place ln the relri»
Live value of the ctirrency of this country, tty (QM.
pared with the money of foreign i:outuriels.`
14. That dining the' continuance of .he tosnen•
sion of 'c'ash payments, it is the duty of tiW 111.:e+
tors of the Bank of England to athert to the store
of the radio Eitchauges, as well 'rig to .the prick .Of
btalllnn, with a view to regulate the 'mount of their
issues. -

11). l'hat the onty certain and ariegoatc security
to he provided against an eXeciii of p tpt4i eurieocyi
and for maintaining the reltitive value of the; circo4
lating ri edium ot the realm, i 9 Ow legal vOnVerti4
bility, Upon demand, ot all paper curreucy Otto law.;
ful coin of the realm.

tti. That in Order to revert gradualy to th;i tit.
cur;ty and to eutoico tneano,hile due lirnit-it:Qn
ot the ot the Bank of Engtaed, as. 11,,,!1,1 as
01 all the other Bank paper of the t,;:uontry, it itt
eXpedient to amend the Ad, which suspends the
viish payments of the Bank, by altering the time
till which the sespension Rini)! continue, from six
months after the ratification of a DefiPtit Ives Tri,aty of
PeataF, to that of two years from tiro pros t titu)s. •

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