Why our laws are not more explicit in specifying the quantities of silver that ought to be contained in given sums of mo

14. As it is a matter of that very great importance, to keep up inviolably the standard of money; it may be asked, how comes it that our laws are so silent in that respect, as not to declare explicitely what that standard is, or what quantities of pure silver ought to be contained in given sums of money; but rest satisfied, as it were, with annexing their sanctions to mere names only?

But the case is not so: For, although our statute-books are silent, the indentures of the mint are very express upon this head; and the forming of these indentures, hath been always considered as part of the royal prerogative. But it may be said with truth, that this is a part of the prerogative that never was, and never can be, exerted to the altering of the standard, but with infinite detriment to the crown itself, as well as to the subject. In former times, the coins agreed exactly in quantities with the common weights of the country, and had the same names with them; as pounds, shillings, and pence, were the names of the common weights, as well as those of specific coins and sums of money: At those times, the bare names of coins and of given sums of money, did manifestly specify or define the precise quantity of silver which they ought to contain; and then every one could readily judge for himself, without the assistance of a law-book, and prevent any fraud or imposition. But although, by the strange pranks that were afterwards played in the dark succeeding ages with money, this business is now become somewhat more obscure; yet it is to be understood, that our laws now mean, as well as formerly, that sums of money under certain names, shall contain certain specific quantities of silver; otherwise their sanctions are merely verbal, and in a matter of such great importance, we are left in effect without any security or law at all: But whatever those of the long robe might determine upon the matter, the common sense of mankind hath determined in our favour; and the long respite we have had, of above a century and a half, from any abuses in the standard of our money, hath given us a kind of prescriptive right, at least, to the having of that standard kept unaltered.

There can be no scheme so weak or wicked, but there will be private men who will have, or fansy they have, an interest in pushing it on; and when that is the case, we have too often seen all considerations of public faith and private justice, sacrificed to the idol of private advantage. But any debasement, however small, of the standard of money, is such an outrage against common sense, as well as common honesty, and such a manifest violation of property; that it may be wondered how men having large possessions, and more especially ministers of state, could ever be brought to concur in measures so pernicious and destructive to themselves, to the public revenues, and to the public faith and credit. But although the ignorance of former times, fell into the snares of wily projectors; it is to be hoped that in this enlightened age, we are secure from being deceived into a scheme, that would be attended with such infinite mischiefs: And indeed in a reign remarkably distinguished by equal laws, and an equal distribution of them; we need no other security against this enormous measure, than the bare shewing the enormity and injustice of it.