--The
third reason was, in respect of its convenience to the subjects
in the way of mutual commerce and traffic. For the subjects of
the realm must, of necessity, have intercourse or dealing with
one another, for no individual is furnished with all necessary
commodities, but one has need of the things which another has, and
they cannot sell or buy together without coin.--And if the subject
should have it (the ore of gold or silver) the law would not permit
him to coin it, nor put a print or value upon it, for it belongs to
the King only to fix the value of coin, and to ascertain the price of
the quantity, and to put the print upon it, which being done, the coin
becomes current for so much as the King has limited.--So that the
body of the realm would receive no benefit or advantage if the
subject should have the gold and silver found in mines in his land;
but on the other hand, by appropriating it to the King, it tends to
the universal benefit of all the subjects in making their King able to
defend them with an army against all hostilities, and when he has put
the print and value upon it, and has dispersed it among his subjects,
they are thereby enabled to carry on mutual commerce with one another,
and to buy and sell as they have occasion, and to traffic at their
pleasure. Therefore, for these reasons, viz., for the excellency of
the thing, and for the necessity of it, and the convenience that will
accrue to the subjects, the common law, which is no other than pure
and tried reason, has appropriated the ore of gold and silver to the
King, in whatever land it be found.
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