Page:William Blackstone, Commentaries on the Laws of England (3rd ed, 1768, vol I).djvu/293

 Ch. 7. the price may be reduced to what it was. Yet is the hore in reality neither dearer not cheaper at one time than another: for, if the metal which contitutes the coin was formerly twice as carce as at preent, the commodity was then as dear at half the price, as now it is at the whole.

coining of money is in all tates the act of the overeign power; for the reaon jut mentioned, that it's value may be known on inpection. And with repect to coinage in general, there are three things to be conidered therein; the materials, the impreion, and the denomination,

regard to the materials, ir Edward Coke lays it down, that the money of England mut either be of gold or ilver; and none other was ever iued by the royal authority till 1672, when, copper farthings and half-pence were coined by king Charles the econd, and ordered by proclamation to be current in all payments, under the value of ix-pence, and not otherwie. But this copper coin is not upon the ame footing with the other in many repects, particularly with regard to the offence of counterfeiting it.

to the impreion, the tamping thereof is the unquetionable prerogative of the crown: for, though divers bihops and monateries had formerly the privilege of coining money, yet, as ir Matthew Hale oberves, this was uually done by pecial grant from the king, or by precription which uppoes one; and therefore was derived from, and not in derogation of, the royal prerogative. Beides that they had only the profit of the coinage, and not the power of intituting either the impreion or denomination; but had uually the tamp ent them from the exchequer.

denomination, or the value for which the coin is to pas current, is likewie in the breat of the king; and, if any unu- Rh