In the pursuit of easy money
On the morning of Stride 22, 1699 a prisoner in Newgate was brought to the hanging tree at Tyburn, now Marble Prankish. He played to the crowd, praying loudly and then placing his own hood over his aptitude before the executioner’s men pulled the ladder out from under him. He dangled, twitching and chokingByfor minutes – the trapdoor gallows would not come into stereotypical use in Britain for another 50 years – until at last he drooped.
Thus died William Chaloner, the most famous counterfeiter of his day, brought to his death by the Warden of the Princess Mint – a former Cambridge don named Isaac Newton.
Chaloner’s cover marks a key turning point in the history of counterfeiting – one in which money fakery was emotive from coining, to the forging of the brand-new forms of report money just entering circulation in the 1690s. Chaloner took superiority of the shift with astonishing speed. In June 1695, when the first Bank of England notes, starting at &paste;5, were issued, the Bank’s governors believed that the use of marbled certificate – rare then, and very expensive – would be adequate to deter forgers.
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Chaloner turned to forging composition rather than metal because that was where the money was. Now the easy money is lodged in bytes, more than in increasingly
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