Page:History of England (Froude) Vol 7.djvu/27

 * 560. ] THE ENGLISH A T HA VRE. 7 for at the Mint according to its bullion value, a percent- age being allowed for the refining. 3. If the Queen would run the risk she might re- lieve her subjects more completely by giving the full value of fourpencc halfpenny for the sixpence, three halfpence for the half groat, and so on through the whole coinage, allowing three-quarters of the nominal value, and taking her chance still with the help of Ireland of escaping unharmed. 1 Swiftness of action, resolution, and a sufficient num- ber of men of probity to receive and pay for the moneys all over the country, were the great requisites. 2 The people were expected to submit to the further loss with- out complaint if they could purchase with it a certain return to security and order. Neither of Stanley's alternatives were accepted literally. The standard for Ireland had always been something under that of Eng- land. But the Queen would not consent to inflict more suffering on that country than she could conveniently help. The Irish coin should share in the common re- storation, and be brought back to its normal proportions. On 2 7 th of September the evils of an uneven and vitiated currency were explained by proclamation. The people were told that the Queen would bear the cost of refining and recoining the public moneys if they on their side would bear cheerfully their share of the loss ; and they were invited to bring in and pay over to persons 1 Mr Stanley's opinion: Domestic MSS. f Elizabeth, vol. xiii. 1 House. 2 Bacon to Gccil, October 14, 1560: MS. Ibid. vol. xiv.