Page:Craik History of British Commerce Vol 1.djvu/157

Rh the luxury of dress was carried to the greatest height. The annual revenue derived from Ireland, which amounted to nearly 10,000l., gives a very respectable idea of the balance drawn into that country by its commerce and manufactures, though we know next to nothing of the particular nature of them unless we suppose a great part of the money to have been drawn from the mines, for which, I believe, there is neither authority nor probability." This year King Edward understanding, as the record in the Fœdera says, that there were various mines of gold and silver in Ireland, which might be very beneficial to himself and the people of that country, had commissioned his ministers there to order a search for the mines, and to do what would be most for his advantage in the matter. The statute 50 Edw. III. c. 8 (A.D. 1376) makes mention of cloth called frise as being made in Ireland, and also of cloth manufactured in England from Irish wool.

The denominations and relative values of the different kinds of English Money continued the same in this as in the preceding period. The coinage had been greatly corrupted, partly by clipping, partly by the issue of counterfeits, in the early part of the reign of Henry III.; in consequence of which that king, in the year 1247, called in the old coin, and issued a new penny of a different stamp. In the exchange a deduction of thirteen pence in the pound was made from the nominal value of the old coin, which occasioned great complaints; but the new coin was not depreciated, or made of a less quantity of silver than formerly. The pennies of Henry III. are Very common, and there also exist silver halfpence and farthings of his coinage. All the money was now made round. It is also said that, in 1257, Henry issued a gold coin of the weight of two silver pennies, which was ordered to pass for twenty pennies of silver. It was however soon recalled, on the complaint of the citizens of London that gold was rated above its value, in being thus made equal to ten times its weight in silver; and no H 2