Gresham's law Crown in the city of Antwerp, to explain to Queen Elizabeth I what was happening to the English shilling. Her father, Henry VIII, had replaced 40 percent of the silver in the coin with base metals, to increase the government's income without raising taxes. Astute English merchants and even ordinary subjects would save the good shillings from pure silver and circulate the bad ones; hence, the bad money would be used whenever possible, and the good coinage would be saved and disappear from circulation. Gresham was not the first to state the law which took his name. The phenomenon had
Alexander and the Terrible, Horrible, No Good, Very Bad Day Alexander says tomorrow things must not get any worse. On Saturday, January 13, 1990, the book was adapted into a 30-minute animated musical television special that was produced by Klasky Csupo and aired on HBO in the United States. While the special is mostly true to the book, the following differences are: This special features 12 more bad things for Alexander: The special also includes 4 good things to show the audience that even a bad day can have something good in it: Although mentioned, the three following bad things are not shown in the special: The special also included