Silver Reals. Mark of fine gold, 1408.94 Of intrinsic value of 1363.15 The seigniorage being 45.79 Mark of fine silver, 90.32 Of intrinsic value of 88.11 The seigniorage being 2.21 Maravedis. Mark of copper, 76 Of intrinsic value of 68 The seigniorage being 8 Philip V. was for many years prevented by the enormous expenditure caused by the revolt of Don Carlos from reform of this system, which he ultimately undertook and carried out. In 1707 he reduced the standard of silver to 10 dineros, of a tale of 75 reals to the mark, creating the money which is distinguished thenceforward by the name of _Plata provincial_. By the regulation of 9th June 1728 the series of _Plata nacional_ was lowered to 11 dineros fine (= .917) and a tale of 68 reals. Of more importance was the Mint regulation of 16th July 1730, by which-- Reales de Plata Provincial. Mark of gold of 22 quilates fine was coined into 1360 Delivered to the importer 1280 ---- Seigniorage 80 = 5.88 per cent. Mark of silver of 11 dineros fine coined into 85 Delivered to the importer 80 ---- Seigniorage 5 = 5.88 per cent. This ideal system could not be retained, as the billon money fell within a short time a matter of 5-1/2 per cent. in relation to it. The latter change was incorporated by the proclamation of 16th May 1737, which fixed the silver _escudo_ of 10 reals (the old piece of 8 reals) at 170 cuartos, equivalent to the 20 reals of billon at which it continued to be valued. By the subsequent Mint order of 22nd June 1742 the attempt was made to bring the billon money into exact relationship with the gold by the coining of gold pieces equal to 20 reals billon (_veintenes_) struck at a tale of 128 per mark, and fineness of 21-3/4 quilates, in place of the previously existing standard of 22 quilates. These veintenes correspond to the escudos of 21-1/4 reals still to be found in circulation. No change of any importance was effected under the short reign of Ferdinand VI. (1746-59), under whom the custom inaugurated by Philip V. of expressing values in reals of billon rather than of silver (_plata provincial_) still continued. His successor, however, Charles III. (1759-88) effected profound reforms. By the ordinance of 29th May 1772 he accomplished a complete recoinage of the Spanish money. The standards he established were--