Pictures of German Life in the XVth, XVIth, and XVIIth Centuries, Vol. II.Freytag, Gustav
History
Pictures of German Life in the XVth, XVIth, and XVIIth Centuries, Vol. II.
Freytag, Gustav
Germany -- Civilization; Germany -- Social life and customs
There was increasing discontent. First among the capitalists who lived
on the interest of the money which they had lent, which was then in
middle Germany five, or occasionally six, per cent. For a time they were
much envied as wealthy people, but now their receipts were often hardly
sufficient to maintain life. They had lent thousands of good Imperial
thalers, and now a creditor would pay them on the nail a thousand
thalers in new money. They demanded back their good old money; they
squabbled and laid their complaints before the courts; but the money
which they had received back bore the image of the Sovereign and the old
mark of value; it was legally stamped money, and the debtor could in
justice allege that he had received similar money, both as interest and
capital and for labour. Thus there arose numberless lawsuits; and the
lawyers were in great perplexity. At last the cities and even the
Sovereigns were embarrassed. They had willingly issued the new money,
and many of them had coined it recklessly. But now for all their taxes
and imposts they obtained only bad money, a hundred pounds of plated
copper instead of a hundred pounds of silver, at the same time
everything had become dear, even to them, and a portion of their
expenses had to be paid in good silver. Then the governments attempted
to assist themselves by new frauds. First they endeavoured to retain the
good money by compulsion; now they suddenly lowered the value of their
own money, and again threatened punishment and compulsion to all who
gave less value for it. But the false money still continued to sink
under the regulated value. Then some governments refused to take for the
payment of taxes and imposts, the money of their own country which they
themselves had coined. They declined taking back what they had stamped
in the last year. Now for the first time the people discovered the whole
danger of their position. A general storm broke loose against the new
money; it sank even in daily traffic to a tenth of its nominal value.
The new hedge mints were cried down as nests of the devil; the
mint-masters and their agents, the money-changers, and whoever else
dealt in money concerns, were the general objects of detestation. Then
it was that they obtained in Germany the popular names of _Kipper_ and
_Wipper_. These are Lower Saxon words: _kippen_ comes equally from the
fraudulent weighing, as from the clipping of the money; and _wippen_
from throwing the heavy money out of the scales.[36] Satirical songs
were sung about them; it was supposed that their names were heard in the
call of the quail, and the mob cried out after them "_kippe di wipp_,"
as they did "_hep_" after the Jews. In many places the people combined
together and stormed their dwellings. For many a year after the terrors
of the long war, it was considered a disgrace to have acquired money in
the _Kipper-time_. Everywhere disorders and tumults arose; the bakers
Public-domain text, read in full here on John Shaqi.
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