“I shall but serve as your mouthpiece to the Court, gentlemen,” resumed Montague, seating himself and turning at once to the business of the day.  “We are all agreed as to the urgency of the case.  The king needs behind him in these times a contented people.  You have already seen the imminence of a popular discontent which may shake the throne of England, none too safe in these days of change.  That we must reorganize the coinage is understood and agreed.  The question is, how best to do this without further unsettling the times.  My Lord Keeper, I must beg you for your suggestions.”

“Sir,” said Somers, shifting and coughing, “it is as you say.  The question is of great moment.  I should suggest a decree that the old coin shall pass by weight alone and not by its face value.  Call in all the coin and have it weighed, the government to make future payment to the owner of the coin of the difference between its nominal and its real value.  The coin itself should be restored forthwith to its owner.  Hence the trade and the credit of the realm would not suffer.  The money of the country would be withdrawn from the use of the country only that short time wherein it was in process of counting.  This, it occurs to me, would surely be a practical method, and could work harm to none.”  My Lord Somers sat back, pulling out his chest complacently.

“Sir Isaac,” said Montague, “and Mr. Locke, we must beg you to find such fault as you may with this plan which my Lord Keeper hath suggested.”

Sir Isaac made no immediate reply.  John Locke stirred gently in his chair.  “There seemeth much to commend in this plan of my Lord Keeper,” said he, leaning slightly forward, “but in pondering my Lord Keeper’s suggestion for the bringing in of this older coin, I must ask you if this plan can escape that selfish impulse of the human mind which seeketh for personal gain?  For, look you, short as would be the time proposed, it taketh but still shorter time to mutilate a coin; and it doth seem to me that, under the plan of my Lord Keeper, we should see the old currency of England mutilated in a night.  Sir, I should opine in the contrary of this plan, and would base my decision upon certain principles which I believe to be ever present in the human soul.”

Montague cast down his eye for a moment.  “Sir Isaac,” at length he began, “we are relying very much upon you.  Is there no suggestion which you can offer on this ticklish theme?”

The large, full face of the great man was turned calmly and slowly upon the speaker.  His deep and serene eye apparently saw not so much the man before him as the problem which lay on that man’s mind.

“Sir,” said Sir Isaac, “as John Locke hath said, this is after all much a matter of clear reasoning.  There come into this problem two chief questions:  First, who shall pay the expense of the recoinage?  Shall the Government pay the expense, or shall the owner of the coin, who is to obtain good coin for evil?