To these trade regulations should be appended a most formidable document (38 Ed. III.) issued against usurers. The preamble will sufficiently expose the view held of usury at that time.
“Whereas heretofore the City of London has sustained great mischiefs, scandals, and damages, and in time to come might sustain the same, by reason of certain persons who, neither for fear of God nor for shame of the world, cease, but rather do daily exert themselves, to maintain the false and abominable contract of usury, under cover and colour of good and lawful trading; which kind of contract, the more subtly to deceive the people, they call ‘exchange’ or ‘chevisance’; whereas it might more truly be called ‘wickedness,’ seeing that it ruins the honour and the soul of the agent, and sweeps away the goods and property of him who appears to be accommodated, and destroys all manner of right and lawful traffic, whereby, as well throughout all the land as the said City, they ought principally to be upheld and maintained. Wherefore, etc.”
Mints were anciently established in every important town, the work of coinage being entrusted to private persons named moneyers.
In the reign of Edward I. there were mints in London, Canterbury, Kingston-on-Hull, Newcastle-on-Tyne, Bristol, and Exeter, a system which produced endless disorders and complaints as to light weight and bad money. It was not until the reign of Elizabeth that all the mints were reduced to one, and that in the Tower of London. Gold coins were introduced by Henry III., but they were not liked, and, as it was optional to take them, they were not in common use until the reign of Edward III., who originated the noble, the half noble, and the quarter noble.
When the King or Queen communicated, and on Twelfth Day, an offering was made of a coin called a Besant, which was afterwards redeemed by the King’s Chamberlain. The Besant was a circular piece of hammered gold engraved on one side with the Trinity and on the other with the Virgin Mary. Those worked for James I. were different. The representation of the King showed him kneeling before an altar, with four crowns before him, and the legend _Quid retribuam Domino pro omnibus quæ tribuit mihi?_ On the other side was a lamb lying beside a cross with the words _Cor contritum et humiliatum non despiciet Deus_.