value than the English nobles. In 1419 it was found that money was being exported "more largely, and in many other manners, than had been accustomed, to the great mischief and impoverishment of the whole realm." And in the following year the usual statute was enacted, on the petition of the Commons, commanding foreign money to Page 57 be taken as bullion. Again, two years later, 1422, the enfeebled and depreciated state of the coinage was so apparent that the collectors of the subsidy granted in that year by Parliament were instructed to accept nobles as of the denominational value of 6s. 8d. (i.e. the full value), "provided they stretched verily to the value of 5s. 8d. by weight." At the same time silver money was so scarce that "though [i.e. even if] a noble were so good of gold and weight as 6s. 8d., yet men could get no white money for it." In 1423 the Commons complained of the want of silver coins in the realm, "to the great unease and harm of the poorer people of this land," "because [says the statute, which was accordingly enacted], that silver is bought and sold uncoined at 32s. the pound of Troy, whereas the same pound is no more of value at the coin than 32s., with an abatement of 12 dens. for the coinage."
From the twenty-fourth chapter of the statute of 1429 it appears, quite consonantly, "that the merchant aliens had of late introduced a custom of refusing to take silver, as they were wont, for their merchandises, and of taking only gold nobles, half-nobles, and farthings, which, from time to time, they carried out of the realm into other foreign countries, where they were changed to their increase and forged into other coins, so that they gained in the alloy of every noble twenty pence, against the tenor of the statutes, etc., and to the prejudice of the King and realm. Therefore the King, willing to provide a Page 58 remedy, ordained that no merchant alien should constrain nor bind any of his liege people by promise covenant or liege, to make him payment in gold for any manner of debt due to him, nor refuse to receive payment in silver for any manner of such duty or debt, upon the pain of the double value of the same."