The Silver Pound And England's Monetary Policy Since the Restoration; Together With the History of the Guinea, Illustrated By Contemporary Documents;

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So far as the National Unit of Coinage is concerned, my distinction applies plainly enough to the time when the ^ In " Silver and Gold," " Monetary Situation in 1878," &c. See also Documents of the Conferences of 1878 and of 1881, and especially therein in a Paper on " The Position of Law in the Doctrine of Money " (re- printed, London, 1882).
134 The Abandonment of the Silver Pound.
" Measure was lost " in 1695, through the mutilation of the Silver-coinSj as well as to the reign of depreciated
... and incon- vertible Paper Pounds Sterling in the opening decade of our century. The Silver Pound Sterling of twenty fall-weight shillings had certainly a legal existence in 1695, and so had a Metallic Pound before and after 1816, though government and citizens were dealing in Paper Pounds. The same observa- tion applies to the right of being Principal Legal-Tender.
Did Silver cease to be the legitimate Measure of Commerce, the one legitimate ancient Standard Money of the Eealm, in the sense of Principal Legal-Tender (while retaining its place as National Unit) — when Gold gained the ascendency over Silver in the circulation ?


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