CHAP. XXIII.

FABRICATION OF COIN.

191

ing that the debasement or deficiency was at therate of forty-eight pounds twelve shillings and four-pence per cent . 1

It became impossible to proceed farther withouta renovation, and though opposed by some power-ful factions in both houses of parliament, the mea-sure was resolved on by small majorities, althoughthe country was at the time in the midst of anextended and expensive war.

The restoration of the coin to its due purityand weight in England seems to have produced animprovement in the state of the coin on the conti-nent. In France many changes were introduced,with the express purpose “pour itre en propor-tion avec les efats voisins, et pour empecher qu’ilsn*enlevassent Vor et l'argent du royaume 2 .”—In Germany several of the smaller states formedconventions, by which it was agreed that the moneyshould circulate through the allied dominions uponcondition that each sovereign should coin it of thesame degree of purity. This was the origin ofthe best kind of money generally known by thename of Conventions geld. In Italy improvementsalso took place in the money of most of the states,and on almost the whole of Europe (for the ex-ceptions are few) : an increased degree of durabilitywas given to the coins in circulation about thesame period.

1 Ruding, vol. ii. p. 387-

2 Abot de Bazinghen, vol. ii. p. 207.