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The Life of Isaac Newton by Richard S. Westfall

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10

The Mint

 

 

 

 

 

 

CRISES RACKED THE INSTITUTION to which Newton moved in the spring of 1696. Indeed, the Mint was an institution within an institution within an institution, all three of which faced crises. The recoinage engaged every pinch of energy at the Mint. The Treasury, of which the Mint was a relatively minor department, devoted equal energy to devising temporary expedients and new machinery to cope with overwhelming financial needs caused by war with France. The English state and the revolutionary settlement it embodied balanced precariously on the outcome of the Treasury’s efforts. In 1696, it was not clear that the financial demands of the war would be met. If they were not, if national bankruptcy ensued, the revolutionary settlement ...

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