The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1896-09-09
Coinage Il. England Il. lees.

In the following quotation from
Macaulay, describing Engand's expe-
rience two hundred years ago, when il
was discussing the Tecoinage 1T h r
''cllppad' crowns aud shlliags, there is
something that sounds strangely familiar
to American ears of to day. we think, ;
we believe and we are conf lent that
what we think and believe will become
true. AT all events we wish to try tne
experiment." says our modern coin
clippers. SO IL similar set of English
politicians argued and insisted in 1896.
Is there anything under tho sun really
new, even in politics But listen to
Macanlay
"Those politicians whose voice was
for delay gave less trouble than an other
set OF politicians, who were for general
and immediate re-coinsge, but who insist
ed thatthe new shilling should be worth on
ly ninepence or ninepence half penny. Al
the head of this party was William L)wn-
der, Secretary of the Treasury and member
OF Parliament for the borough OF Seaford,
| a most respectable and industrious public
servant, but much more versed in the de-
tails Of his office than in the higher parts
of political philosophy. He was not 10
| the least aware that piece OF meta! With
the Kings head on it was commodity
| OF which the price was governed by the
same laws which govern the price OF
piece OF metal fashioned into a spoon
or buckle, and that it was no more
| 10 the power OF parliament to make the
kingdom richer by calling five shilllngs
twenty shilliugs than TO make the
4 fnYl
mile. He seriously believed, incTed-
ib.e as it may seem, that, II the
ounce Of silver were divided into seven
shilings instead Of five, foreign nations
would sell us their wines and silks for
a smaller number OF ounces. He had
considerable following, composed partly
OF dull men who really believed what he
told them, and partly of shrewd men who
were perfectly willing to be authorized by
law TO pay hundred pounds with eighty.
Had his arguments prevailed, the evils OF
vast conflacation would have been added
to all the ether evils which afflicted the
nation, public credit, still in its tender
infancy, would have been destroyed.
Happily, Lownder was completely
refuted by Locks in paper drawn up for
the use Of Somers. Somers was delighted
with this little treatise. and desired that
it might be printed. Ii speedily became
the text book OF all the most enlightened
politicians in the kingdom, and may still
be read with pleasure and profit. The
effect OF Locks forcible and perspicuous
reasoning is greatly heightened by his
evident anxiety to get at the truth, and by
the singularly generous and graceful
courtesy with which he treats an antagon-
list OF powers far inferior TO his own.
Stamsford, the Astronomer Royal des-
cribed the controversy well by saying that
the point in dispute was whether five is
seven, or only Ave. Mean.
while the newly liberated presses Of the
capitol never rested moment. lnnum.
cradle pamphlets and broadsides about thu
coin, Ivy on the counters OF the book
sellers, and were turned into the handi
OF the members OF Parliament In th,
lobby. 10 one OF the most serious ant
amusing OF these pieces, Lewis and hi
ministers are introduced, expressing tn
greatest alarm lest England should make
herself the richest country in the work.
by calling ninepencea shilling.