Money Matters in Regency England

 

Book 2 http://getbook.at/ForRicher
Join Parthena and Jerome on their exciting adventure!

The first conflict in For Richer, For Poorer occurs when heroine Miss Parthena Munro ‘borrows’ a coin purse from Mr Jerome Fender.

I used the term ‘coin purse’ rather than wallet because, unlike the pre-plastic card society where paper money had been the norm it was not so commonly used in Regency England.

Banknotes outside of London were not guaranteed by the Bank of England until 1826 when its first branch outside the City was opened in Gloucester. Privately owned regional banks in England and Ireland had unique notes that were signed by their own chief cashiers and therefore their continued validity depended on the success of the issuing bank. This meant that banknotes were not as secure as they are today, should a run on such an establishment occur, it could wipe out a person’s assets.

Coins had immediate and standardised values and so, although weighty, were accepted everywhere.

The golden guinea had a value of 1 sovereign and 1 shilling making it the highest denomination.

Next was the sovereign (1 pound) worth 20 shillings.

Then a half sovereign worth 10 shillings

A Crown equalled 5 shillings

1 shilling equalled 12d (old pennies)

1/2 shilling was known as a six pence piece.

A groat was 4d

A farthing was 1/4d

However, not everyone in Regency England was expected to pay their bills immediately. The aristocracy, upper and middle classes lived on credit to a large extent. This seems a strange inequality to us today, but it was the lower classes who were expected to pay coin for their goods and services on demand.

This created a highly unfair society. It also led to a number of Debtors’ prisons such as  York prison, Marshalsea and The Fleet. Charles Dickens’ father was in the former under the Insolvent Debtor’s Act of 1813, when he failed to pay his debts to a trader. It was a hard system to break free from even though there was the chance of day-release to go and work, but debts continued to mount.

This period marks the beginning of change in what had previously been the norm because of the inability of debtors to pay their cumulative debts to their creditors, which could then bring these companies down as they also had creditors too. Therefore, the system had to change and settlement by cash was being favoured, yet the debtors still kept these prisons throughout Dickensian times.

What Parthena did could have cost her liberty, her life or seen her transported to the . It was just as well that it was Jerome she borrowed the coin from!

Book 2

Mount Grace Priory
Now a ruin, but once a thriving community, beautifully set against the forestry with the moorland above.

Crime and Punishment 3: Man-traps

Before moving on from Ripon I would like to mention one exhibit in the Prison & Police Museum that brought home to me the cruelty of the era that my historical stories are set. I found a man-trap displayed on the wall. I have mentioned them in my work, but it is only when you see the ugly things close up that you realise how being caught in such a sprung trap could maim and kill, in what was a slow and excruciatingly painful way.

They were hidden in undergrowth to catch or deter poachers or trespassers. They had a spring mechanism that meant the metal jaws (many had teeth – serrated edges to really lame the culprit). However, the sentences for poachers were also severe and included hanging or transportation. Although they were a fact of life in the early nineteenth century, and had been for some time, fortunately they were banned from England C.1830. Nonetheless some must have stumbled upon them by chance and others by necessity of crossing private land…

Extract from Phoebe’s Challenge

Phoebe's Challenge KEC Thomas closed his eyes fleetingly. “Yes, we will,” he spoke the words after a few moments of silence.

“We’ll what, Didy?”

“Find Levi; he didn’t disclose us – we should help him too.”

His hand, still holding the bottle, dropped down, but his senses awoke as the clang of an iron mantrap snapped viciously shut next to him. His face paled as he looked down horrified at the sight of meshed metal teeth that greeted him. Phoebe had screamed as the great jagged jaws of the mantrap had snapped shut as Thomas lowered his arm, triggering the edge of mechanism, but fortunately his limb had not fallen within its evil grip; instead the bottle was smashed.

Extract from Hannah of Harpham Hall

HannahShe was gamely running along a path ignoring Betsy’s pleas for her to come back to her, when an arm reached out and grabbed her by the shoulder, pulling her backwards. She landed in a pool of mud and foliage.

“How dare you…you great bully!” Hannah shouted out in indignation at the figure who stood openly laughing at her dishevelled state, whilst boldly standing in front of her. Her ribbon had come loose and her hair started to fall down onto her shoulders. Her anger rose and she was about to vent her opinion at the lad, who must have only been a few years her senior, but he spoke to her first.

“You stupid little spoilt brat! Look what you nearly ran into!” He threw a stick at the ground in front of where she had been heading and, instantly, the metal jaws of a man-trap snapped shut, tearing it in two.

Hannah’s mouth dropped open. She wanted to cry out, but was too scared and confused. Betsy ran up behind her, panting heavily. She slapped the girl hard on her shoulder. Hannah fought hard to hold back her tears. This was not the kind of adventure she had envisaged. The lad looked nervously around him as her father’s voice bellowed to them through the woods, “What is the meaning of this?”

Featured image / RN

Pheobe’s Challenge and Hannah of Harpham Hall are also available to buy on Smashwords!