Midas, Transmuting all into ǤØŁĐ PAPER

Abstract

The print shown here is based loosely on the fable of King Midas, who had the power of transforming all he touched into gold. Gillray has cleverly reversed the legend to fit a specific incident during William Pitt's administration as prime minister of England. As the title indicates, Pitt is pictured as King Midas, transforming the coins he inhales into paper money. His body is a securely locked bag of gold coins, marked "£." He stands astride the bank of England, while anxious creditors scurry below, trying to catch the coins that spew forth as paper money.