The History of Currency, 1252 to 1896Shaw, William Arthur
History
The History of Currency, 1252 to 1896
Shaw, William Arthur
Money -- History
1. _Silver Dukaat_--
Weight 18 engels 8-2209/11200 azen (28.78 grs.).
Standard, 10 pen. 10 grs. (= .868).
2. _Silver Rijder_--
Weight, 21 engels 5-59/80 azen (= 52.574 grs.).
Standard, 11 pen. 5-3/4 grs. (= .937).
3. _Gold Dukaat_--
Weight, 2 engels 8-24/55 azen (= 3.494 grs.).
Standard, 23 kr. 7 grs. (= .983).
The trade money was only minted for private accompt. The unit gulden and
the 3-gulden piece were also minted for private accompt, but the
divisional silver money, the copper money, and the gold standard
10-gulden piece were only to be minted on Government account.
By Article 15 of this law the franc was adopted in the Southern
provinces on a footing of
1 franc = 47-1/4 carats.
1 gulden = 2 francs 11-61/100 centimes.
Finally, by Article 18, the tender of copper was limited to 1 gulden,
and that of the smaller silver denomination to one-fifth of the amount
of settlement.
By the succeeding law of 22nd March 1839, the silver Netherland gulden
was prescribed to be of the weight of 10 wigtje's or grms., and .945
fine.
This prescription was retained as to the gulden in the more important
Act of 26th November 1847.
This Act definitely established the silver standard. The standard coins
were declared to be the gulden (and its half) and the rijksdaalder (=
2-1/2 guldens). The gold _William_ and the gold _dukaat_ were declared
to be trade money, and the minor or divisional silver coins (25 cents
and under) were fixed at a fineness of .645. The gold William was to
weigh 6.729 grms., .900 fine (content of pure gold, therefore, to be
6.056 grms.). The gold dukaat was to weigh 3.494 grms., .983 fine
(therefore to contain 3.4345 grms. fine gold).
The coinage of standard silver coins, and of gold trade coins, was left
free to individuals (Article 18). The trade money was expressly declared
to be no legal tender (_geen wettig betaalmiddel_, Article 20).
The tender of silver divisional coins was limited to 10 guldens, and
that of copper coins to 1 gulden.
This silver standard continued in force until 1872. In that year,
however, in consequence of the fall of silver, a Bill was passed to
suspend the coining of silver for private accompt. The Mint was closed
to its coinage, and for a time Holland had no metallic standard at all,
as gold was only merchandise or trade money. This state of things led
to the enactment of the law of 6th June 1875, which introduced the gold
standard, but under peculiar arrangements.
The standard coins were declared to be--_beside_, or in addition to, the
silver standard coins minted previously to the new law--the gold
10-gulden piece, .900 fine, containing 6.048 grs. fine gold (weight,
therefore, 6.720 grms.).
The minting of these latter was declared free to the individual, and the
minting of the gold Williams ordered to cease (Articles 5 and 6).
Public-domain text, read in full here on John Shaqi.
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