FTP, name this Englishman, best known for an observation which states that, given two coins of equal value, the one of lower intrinsic value will tend to drive the other one out of use, a "law" that generally says "Bad money drives out good."
While serving as the king's merchant at Antwerp in 1551, he managed to repay a substantial loan that allowed the king to open credit again, and after being dismissed for Protestantism by Mary he was appointed ambassador to the Netherlands in 1559 by Elizabeth. He managed to convince the government to borrow money from London financiers instead of from foreigners, and facilitated the process by founding the Royal Exchange. FTP, name this Englishman, best known for an observation which states that, given two coins of equal value, the one of lower intrinsic value will tend to drive the other one out of use, a "law" that generally says "Bad money drives out good."
While serving as the king's merchant at Antwerp in 1551, he managed to repay a substantial loan that allowed the king to open credit again, and after being dismissed for Protestantism by Mary he was appointed ambassador to the Netherlands in 1559 by Elizabeth.
Sir Thomas Gresham