(4) _The Merk_, 13s. 4d. Scots, was raised in value by James VI. to 13-
1/2d. sterling, to make it interchangeable with English money. He coined
none after his accession to the throne of England, and probably intended
that no more should be coined. But the merk had too strong a hold in
Scotland, and half merks were struck by Charles I., and various multiples
and parts of merks by Charles II. at the old issue value of 13s. 4d. the
merk. On the other hand, in 1651 Parliament 'cryed up' the 12s. Scots
piece--equal to the English shilling--to one merk; and in 1625 the Britain
crown or 31. Scots piece is officially described as 'known as the five merk
piece,' though its issue value was only five shillings. This illustrates
the confusion and uncertainty of the relative value of coins, of which
parenthetically two other examples may be given. On 20th June 1673 Lauder
notes the receipt of his year's salary as one of the assessors for the
burgh, 'being 150 lb. Scots, which is about 229 merks,' whereas with the
merk at 13s. 4d. (the standard value), 150 lb. is exactly 225 merks. In the
same way he constantly states the same salary indifferently at 1501. Scots
or £12 sterling, whereas 1501. Scots ought to have been equal to £12, 10s.
sterling.

(5) _Shilling_. Lauder applies the name without distinction to the English
shilling, 12s. Scots piece, which at page 80 he calls our shilling, and to
the shilling Scots. The context generally shows which he means.

(6) _Groat_. Lauder's groat is the English groat of four pence, sterling.
The groat Scots of less value had not been coined for a century.

(7) _Penny_. As in the case of the shilling, Lauder uses the name
indifferently for English pence and pennies Scots, but more often English.