Fate took a hand to drive the coinage further out of order when, after William and Mary came to the throne, the price of gold and silver became greatly increased, so that there was much more than a shilling’s worth of silver in a shilling. Or at least there ought to have been. A new-struck shilling weighed ninety-three grains, although with the price of silver increasing all the time it need only have weighed seventy-seven grains; and even more vexing was that with the coin so worn and thin, and rubbed with age, and clipped and filed, a shilling often weighed as little as fifty grains. Because of this, people were inclined to hoard the new coin and refuse the old.
The Recoinage Act had passed through the Parliament in January 1696, although this only chafed the sore, the Parliament having been imprudent enough to damn the old money before ensuring that there existed sufficient supplies of the new. And throughout the summer—if that was what it was, the weather being so bad—money had remained in such short supply that tumults every day were feared. For without good money how were men to be paid, and how was bread to be bought? If all that was not subversion enough, to this sum of calamity was added the fraud of the bankers and the goldsmiths who, having got immense treasures by extortion, hoarded their bullion in expectation of its advancing in value. To say nothing of the banks that every day were set up, or failed, besides an intolerable amount of taxation on everything save female bodies and an honest, smiling countenance, of which there were few if any to be seen. Indeed there was such a want of public spirit anywhere that the Nation seemed to sink under so many calamities.
Much aware of my sudden need for a position and Doctor Newton’s equally sudden need for a clerk, Charles prevailed upon Lord Montagu to consider advancing me in Newton’s favour for employment, and this despite our not having the fondness which we used and ought to have as brothers. And by and by it was arranged that I should go to Doctor Newton’s house in Jermyn Street to recommend myself to him.
I remember the day well, for there was a hard frost and a report of more Catholic plots against the King, and a great search for Jacobites was already under way. But I do not remember that Newton’s reputation had made much of an impression upon my young mind; for, unlike Newton, who was a Cambridge Professor, I was an Oxford man and, although I knew the classics, I could no more have disputed any general mathematical system, let alone one affecting the universe, than I could have discoursed upon the nature of a spectrum. I was aware only that Newton was, like Mister Locke and Sir Christopher Wren, one of the most learned men in England, although I could not have said why: cards were my reading then and pretty girls my scholarly pursuit—for I had studied women closely; and I was as skilled in the use of sword and pistol as some are with a sextant and a pair of dividers. In short, I was as ignorant as a jury unable to find a verdict. And yet, of late—especially since leaving my inn of court—my ignorance had begun to weigh upon me.
Jermyn Street was a recently completed and quite fashionable suburb of Westminster, with Newton’s house toward the western and better end, close by St. James’s Church. At eleven o’clock I presented myself at Doctor Newton’s door, was admitted by a servant and ushered into a room with a good fire in it, where Newton sat awaiting my arrival upon a red chair with a red cushion and a red morocco-bound book. Newton did not wear a wig and I saw that his hair was grey but that his teeth were all his own and good for a man of his age. He wore a crimson shag gown trimmed with gold buttons and I also remember that he had a blister or issue upon his neck that troubled him a little. The room was all red, as if a smallpox victim did sometimes lie in it, for it is said that this colour draws out the infection. It was well furnished with several landscapes upon the red walls and a fine globe that occupied a whole corner by the window, as if this room was all the universe there was and he the god in it, for he struck me as a most wise-looking man. His nose was all bridge, as across the Tiber, and his eyes, which were quiet in repose, became as sharp as bodkins the minute his brow furrowed under the concentration of a thought or a question. His mouth looked fastidious, as if he lacked appetite and humour, and his dimpled chin was on the edge of finding itself joined by a twin. And when he spoke, he spoke with an accent I should incorrectly have supposed to be Norfolk but now know to have been Lincolnshire, for he was born near Grantham. That day I met him first he was just a month or so short of his fifty-fourth birthday.