Page:Prerogatives of the Crown.djvu/219

 Ch.XL] Revenue. 199 prerogative seemeth not to extend to the debasing or enhancing the value of the coin below or above the sterling value, though Sir Matthew Hale appears to be of another opinion." It need only be added, that the statute 14 Geo. 3, ch. 92. seems to furnish an inference that the standard weight of the gold and silver coin of the kingdom is unalterable, but by Act of Par- liament. If Lord Coke's opinion be correct, it seems, as laid down by Sir Wm. Blackstone (fl), that the King must fix the value of foreign money, rendered current in this country, by comparison with the standard of our own coin ; otherwise the consent of Parliament will be necessary. No proclamation seems necessary to the legitimation of money coined by the royal authority in this country (i), unless unusual pieces be coined {c) ; but such proclamation is essen- tial to the legitimation of foreign coin made current here. CHAR XL Of the Prerogative as to the Revenue, The power of a state must greatly depend on the income it possesses {d). If it enjoy a considerable and unencumbered revenue, it can employ a larger proportion of its subjects to carry on war, or may cultivate to more advantage the arts of peace, when unembarrassed with hostilities : whereas, with a small income, it can neither reward the services, nor encourage the exertions, of its people ; and it must principally trust, both for its improvement and protection, to the natural activity of mankind, or to the voluntary and disinterested zeal of public- spirited individuals. But, however numerous the advantages of a great revenue, they are dearly purchased if they cannot be procured without oppression. A certain share of his annual income no indivi- (a) 1 Bla. Com. 278. work on the Revenue of Great Britain, b) 1 Hal. P. C. 196, 7, 8. See vide vol. 1. ch. 1. page 1. Thesaurus Regis Davis's Rep. 19. est fundamcnlum belli etjirmamentumpa- (c) I Bla. Com. '278. cis. Co. Lit. 131, b. {d) Sec Sir John Sinclair's CKcelleat dual