The History of Currency, 1252 to 1896Shaw, William Arthur
History
The History of Currency, 1252 to 1896
Shaw, William Arthur
Money -- History
"2. On this common weight standard the coinages of the contracting
states shall be in accordance with the two systems in existence among
the said states, viz. by thalers and groschen, according to the
14-thaler (or Prussian) system; or by gulden and kreutzer, according to
the 24-1/2-gulden (or South German) standard. For the purpose of
assimilation or equivalating, the thaler to be reckoned = 1-3/4-gulden,
and the gulden = 4/7-thaler.
"3. The 14-thaler system to be that of Prussian Saxony, Hesse, Saxony,
and Saxe-Altenburg, Saxe-Coburg and Gotha (Gotha),
Schwarzburg-Rudolstadt (Unterherrschaft), Schwarzburg-Sondershausen, and
Reuss; the 24-1/2-gulden system to prevail in Bavaria, Würtemberg,
Baden, Hesse, Saxe-Meiningen, Saxe-Coburg and Gotha (Coburg), Nassau,
Schwarzburg-Rudolstadt (Oberherrschaft), and the Free State of
Frankfurt.
"4. Each state will confine its mintings to such pieces as prevail in
the system of which it forms part.
"5. In larger specie, and also in divisional coin, each state to bind
itself to exercise the greatest care to preserve the standard and
weight.
"7. For the purpose of the commerce of the contracting states _union_ or
_convention_ coins (_vereinsmünze_) shall be minted seven to the mark of
fine silver, at an equivalence of 2 thalers or 3-1/2 guldens, fully
tenderable throughout the Union.
"8. Alloy to be .9 silver, .1 copper; so that 6-3/10 pieces = 1 Mint
mark in weight; remedy = .003.
[Sidenote: THE DRESDEN CONVENTION, 1838]
"9. From 1st January 1839 to 1842, at least 2,000,000 of these
_vereinsmünze_ to be coined, one-third part each year, and by the
various states _pro rata_ of their population. From 1842 onwards, in
case of no new treaty, the rate of minting to be two millions
_vereinsmünze_ every four years, _pro rata_ as before; each state to
give an account of its mintings.
"10. Also of their separate trials of standard and weight.
"11, 13. None of the contracting states to set its particular internal
specie at any different value except on a three months' notice, and to
renew its currency at face value in case of depreciation.
"12. The states bind themselves not to issue divisional coins in excess
of such _pro rata_ requirements as above.
"14. For the divisional coinage the standard of the convention of
Munich, 1837 (viz. 27 gulden), is adopted.
"18. The treaty to endure till the end of 1858. States intending to
retire then to give two years' notice. From that date, if not discarded,
the treaty to be periodically renewed (five-yearly)."
This treaty continued in force nominally until the later and still more
famous convention of Vienna in 1857, before which date Hanover,
Brunswick, and Oldenburg had also given in their adherence to it.
At the time of the Mint Conference and Convention of Vienna, therefore,
there were, broadly speaking, three competing systems in Germany, viz.
of Austria, Prussia, and South Germany or Bavaria.
Public-domain text, read in full here on John Shaqi.
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