The unit denomination of the silver money was twofold--(1) the silver _sueldo_ (= 1/6 onza like the gold), and (2) the _denario_ (1/8 onza or ochava). The silver coins were at first of 12 dineros fine, but subsequently only _10.12_ (=.875 fine). Of these two units, the latter, the silver denario was far the more usual and frequent in use. With one important change of name, and infinite change of incident and detail, it was this system which obtained till the great reform of the Spanish monetary system under Ferdinand and Isabella. The change of name consists in the introduction of that of the _maravedi_, which was adopted from the conquered Moors, and applied to designate the sueldo d'oro from the time of the conquest of Toledo. In a comprehensive way it may be said that the history of this word or name, maravedi, sums up the monetary history of Spain. From being the original gold coin of highest denomination, it came to be a silver coin, then a billon coin of the very lowest denomination, as it is to-day. The process of its degeneration is quite unexampled even in Europe. In addition, also, to the confusion of idea produced by this depreciation there is a further uncertainty, caused by the quite general use of the word or name, i.e. not as the name of a particular coin or money series, but perfectly generally for almost any and every coin--as synonymous, in fact, with the simple word money itself. Neglecting this latter question, however, as one of nomenclature merely, the course of depreciation of the maravedi may be thus illustrated:-- Maravedi (Moorish coin), fine gold, about 56 grs. By the time of James I. of Aragon, the contents in fine gold had sunk to 14 grs. Having been still further reduced to 10 grs. under Alfonso the Wise, it was made into a silver coin, as being too small to be expressed in gold. Its depreciation in this latter form and through its third form of billon money was as follows:-- +-------+---------------------+--------------+ | | Number of Maravedis | Contents of | | Date. | to the | Fine Silver, | | | Cologne Mark. | Grains. | +-------+---------------------+--------------+ | 1312 | 130 | 25.85 | | 1324 | 125 | 26.86 | | 1368 | 200 | 16.79 | | 1379 | 250 | 13.43 | | 1390 | 500 | 6.71 | | 1406 | 1000 | 3.35 | | 1454 | 2250 | 1.49 | | 1550 | 2210 | 1.52 | | 1808 | 5440 | 0.62 | +-------+---------------------+--------------+ To return. At the time of its adoption by the Christian powers of Spain, the maravedi (or sueldo de oro) was equal to 1/6 onza of gold. To this maravedi de oro was subsequently given the name of _Alfonsi_, supposititiously from Alfonso VI., the first to issue them.