In the middle of the sixteenth century there was so much silver in the Venetian Mint waiting to be coined for the merchants that the State, finding it could only issue 35,000 pieces a month, which, in small pieces of 442 soldi, would take a year to exhaust the stock, determined for the ease and encouragement of the merchants to issue a large silver piece, the _ducato d'argento_, 7-1/4 to the mark of silver by tale, and rated at 124 soldi. Under Doge Nicoló da Ponte (1578-85) this piece becomes the _scudo d'argento_, which begins in 1578 with an equivalence of 7 lira. In 1578 the scudo was rated at 7 lira 0 soldi. " 1608 " " 8 " 8 " " 1621 " " 8 " 10 " " 1630 " " 9 " 0 " " 1635 " " 9 " 6 " " 1665 " " 9 " 12 " " 1702 " " 10 " 0 " " 1703 " " 10 " 10 " " 1704 " " 11 " 0 " " 1705 " " 11 " 4 " " 1706 " " 11 " 8 " " 1708 " " 11 " 10 " " 1709 " " 11 " 12 " " 1718 " " 11 " 14 " " 1739 " " 12 " 8 " On this basis the monetary system of Venice continued till the seizing of the Mint by the Democrats in 1797. For several years, during which they held possession, they issued a coin called _Tollero_, of the nominal value of 10 Venetian lire, i.e. 5.16 Italian lire, but really only equal to 4.99 of the latter. In 1802 the Italian Republic was erected by Buonaparte. The monetary law of the Republic, dated 30th April 1804, provided for the coining of a national money on a unit or basis of the silver lira, of the weight established by the law of 27th October 1803, namely, 4 deniers, and of .9 standard. The unit gold coin to be 1/125 of the new established livre in weight (= 8 deniers), and of .9 standard, to equal 31 lire. In 1805 Napoleon declared himself King of Italy, but the change was not followed by any radical revolution of the coinage system. From 1806 the decimal system was introduced into Italy, and on the reduction of the numerous independent monetary systems the Venetian lira was computed at .5116 of the Italian, i.e. 51.16 centesimi. As a matter of fact, however, the Venetian lira did not totally thereupon disappear from use. By decree of December 21, 1807, the ducat (zecchino) of 67-47/41 Venetian grs. was rated at 12.03 lire Italiane. Under the Lombardo-Venetian kingdom, which succeeded, the main Italian monies were assimilated to those of Austria. The money of account was, at Milan, the Austrian lira (= 100 centesimi = 20 Austrian soldi at 5 centesimi each).