Lorenzo de' Medici, the Magnificent (vol. 2 of 2)Reumont, Alfred von
History
Lorenzo de' Medici, the Magnificent (vol. 2 of 2)
Reumont, Alfred von
Medici, Lorenzo de', 1449-1492
This was a pretty clear token of how matters stood with regard to the
powers of the supreme court. But this was not all; participation in the
government was to be yet further restricted. In the summer of 1490 a
measure was carried which concentrated the actual direction of affairs
in the hands of a small body. The Council of Seventy was to remain as a
council of State; but the elections to the Signoria were transferred,
as under the old system, to _accoppiatori_, named by a committee of
seventeen, of whom Lorenzo was one. The members of this committee
were chosen arbitrarily, and only one of them belonged to the minor
guilds. On them was dependent every branch of the administration, more
especially finances and the national debt.
The new committee’s first measure concerned the coinage. In appearance
it was sensible enough. The city and country were overwhelmed with
small and base foreign coin; Sienese, Lucchese, Bolognese, &c. August
28, 1490, a decree was issued forbidding the circulation of foreign
coins on and after September 8. As Alamanno Rinuccini remarked, it was
not the first decree of the kind, and it was no more observed this time
than heretofore. Indeed, it was practically impossible to distinguish
the foreign _quattrini_ from the Florentine, outwardly very like them.
So on May 1, 1491, a radical reform was undertaken. The old native
small coin, the so-called black quattrino, was called in, and replaced
by a new coin containing two ounces of silver to the pound of copper,
and reckoned as equivalent to five danari, while the old one was called
in at the rate of four danari. The public treasuries were in future
to receive only the new white quattrini. The people were pleased,
hoping to get rid of the confusion. Their rejoicing did not last long.
Instead of melting down the old money, it was stealthily brought into
circulation again, and the old quattrino remained in use side by side
with the new one. Out of this confusion arose endless difficulties; and
the people found that in taxes, duties, purchases of salt, everything
where produce went into the treasury, they were the chief sufferers.
The consequence was general discontent, directed principally against
the heads of the government, as their limited number made them the more
conspicuous.[376]
Public-domain text, read in full here on John Shaqi.
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