“Let us take up this matter directly with Parliament, not seeking to evade the knowledge of Parliament in any fashion; for, as we know, the Parliament and the king are not the best bed-fellows these days, and the one is ready enough to suspect the other.  Let us have a bill framed for Parliament—­such bill made upon the decisions of these learned gentlemen present.  Above all things, let us act with perfect openness.

“As to the plan itself, it seems that a few things may be held safe and sure.  Since we can not use the old coin, then surely we must have new coin, milled coin, which Charles, the earlier king of England, has decreed.  Surely, too, as our learned friend has wisely stated, the loss in any recoinage ought, in full justice and honesty, to fall not upon the people of England, but upon the government of England.  It seems equally plain to me there must be a day set after which the old coin may no longer be used.  Set it some months ahead, not, as my Lord Keeper suggests, but a few days; so that full notice may be given to all.  Make your campaign free and plain, and place it so that it may be known, not only of Parliament, but of all the world.  Thus you establish yourselves in the confidence of Parliament and in the good graces of this people, from whom the taxes must ultimately come.”

Montague’s hands smote again upon the table with a gesture of conviction.  John Locke shifted again in his chair.  Sir Isaac and the lord keeper gazed steadfastly at this young man who stood before them, calmly, assuredly, and yet with no assumption in his mien.

“Moreover,” went on John Law, calmly, “there is this further benefit to be gained, as I am sure my countryman, Mr. Paterson, has long ago made plain.  It is not a question of the wealth of England, but a question of the confidence of the people in the throne.  There is money in abundance in England.  It is the province of my Lord Chancellor to wheedle it out of those coffers where it is concealed and place it before the uses of the king.  Gentlemen, it is confidence that we need.  There will be no trouble to secure loans of money in this rich land, but the taxes must be the pledge to your bankers.  This new Bank of England will furnish you what moneys you may need.  Secure them only by the pledge of such taxes as you feel the people may not resent; give the people, free of cost, a coinage which they can trust; and then, it seems to me, my Lords and gentlemen, the problem of the revenue may be thought solved simply and easily—­solved, too, without irritating either the people or the Parliament, or endangering the relations of Parliament and the throne.”

The conviction which fell upon all found its best expression in the face of Montague.  The youth and nervousness of the man passed away upon the instant.  He sat there sober and thoughtful, quiet and resolved.