Page:Prerogatives of the Crown.djvu/217

 Ch.X. Sec.II.] Ck)m. 197 issued till 1672, when copper farthings and halfpence were coined by Charles 2. and ordered by proclamation to be cur- rent in all payments under the value of sixpence, and not otherwise. But this copper coin is not upon the same footing with the other in many respects, particularly with regard to the offence of counterfeiting it {a). It seems therefore that the King may make money of other materials than gold, silver or copper, though such money would not in various respects be protected by laws which relate to other coin. 2. As to the impression, the stamping thereof is the unques- tionable prerogative of the Crown ; for though divers bishops and monasteries had formerly the privilege of coining money, yet, as Sir Matthew Hale observes (b), this was usually done by special grant from the King, or by prescription, which supposes one ; and therefore was derived from and not in de- rogation of the royal prerogative. Besides that, they had only the profit of the coinage, and not the power of instituting either the impression or denomination ; but had usually the stamp sent from the Exchequer. 3. The denomination or value for which the coin is to pass current, is likewise in the breast of the King; and if any unusual pieces are coined, that value must be ascertained by proclamation. In order to fix the value, the weight and the fineness of the metal are to be taken into consideration to- gether. When a given weight of gold or silver is of a given fineness, it is then of the true standard, and called esterling or sterling metal (c). Whether the King can legally change the established weight or alloy of money, without an Act of Parliament, seems not to be quite clear. By the statute 25 Ed. 3. st. 5. c. 13. it is " accorded and established that the money of gold and silver which now runneth, shall not be impaired in weight nor in alloy ; but as soon as a good way may be found that the same be put in the antient state as in the sterling." Lord Coke {d), in his comment of arliculi super cartas^ ch. ^0, 21. cites, among other acts and records, this statute of the 25 Edw. 3. and the Mirror of Justices, ch. 1. s. 3. (" Ordeinjuit que nul roy de ce (a) 1 Bla. Com. 277. (c) Ibid. '278, and see Ibid, note 10. (A) 1 Hist. P. C. 191. 1 Bla. Com. Folkeson English Coins. 277. (rZ) 2 Inst. 575, 377. realme