4

TRADE OF THE

CHAP. XV.

the separation of the two ancient branches re-ceived the name of bankers.

The trade of the goldsmiths consisted, in Eng-land, in exchanging the coins of foreign countrieswith those of their own. We can scarcely con-ceive in our time when, both in England and inFrance , all the current money is of a low butfixed value and of domestic coinage, of what im-portance this trade must have been, withoutbearing in mind that a grain of gold or of silverat the period now under consideration, the reignof Henry VII. , was at least equal in value toseven or eight grains in the present day, wheneverit was to be exchanged for corn, cloth, or any othercommodity. Those who exercised that trademust have found it necessary to acquire such aknowledge of chemistry, and such facility in per-forming its operations, as could enable them todecide certainly and speedily on the exact portionof alloy which each piece contained, and its exactweight, to the minutest subdivision of weights,with the greatest accuracy.

The far greater part of the gold money and alarge proportion of the silver money must havebeen too valuable to have come into commoncirculation. When a quarter of wheat was worthfour or five shillings, he who purchased a bushel,or even a sack, would pay for it in copper, lead,or tin money. The same must have been the