The History of Currency, 1252 to 1896Shaw, William Arthur
History
The History of Currency, 1252 to 1896
Shaw, William Arthur
Money -- History
In 1391-93 another general proclamation was issued, ordering a reduction
of the value of the monies and fixing new rules of exchange, and this
was followed by one in 1398, prohibiting the circulation of foreign
coins in Spain, except at bullion value. This latter was a common
device, as will be seen in the case of our own country. It proved
ineffectual to prevent the outflow of the metals, and when re-enacted in
1413 was found to be of as little avail. The Cortes of 1442 (Valladolid)
complained bitterly, in a petition, of the money drawn away from the
realm by foreign merchants, and in the same year a fresh ordinance was
issued to readjust the values of the native monies to the foreign coins.
In this schedule, _doblas de la Banda_ were rated at 100 _maravedis_,
and the _florin d'oro d'Aragon_ at 65 _maravedis_. In 1473, only thirty
or so years later, by the charter of Henry IV., issued at Segovia, these
coins were rated at 300 and 200 _maravedis_ respectively. It was only
with the advent of the Catholic sovereigns that the internal disorder
and want of unity of the Spanish system was effectually remedied, in the
very hour of that discovery of a new world which was to put upon Spain
the vital function of distributing the new stores of precious metals
(see account of Spanish monies, Appendix III.).
Germany.
The movements of the precious metals in Germany--which, as far as the
ratio of the two metals is concerned, may be held to include the
Netherlands up to 1552, when Flanders withdrew from the monetary system
of the Holy Roman Empire--is a record of exactly the same process of
natural and gradual appreciation of the _metal_ (i.e. depreciation of
the weight and fineness of the _coin_) as in Spain, France, and England.
In the accompanying tables the movement of silver is illustrated by
means of the groschen, and that of gold by the Rhenish gulden. These
coins, it need hardly be said, were not unit coins, nor sole prevailing.
They are chosen from the bewildering variety with which the numerous
independent Mints of Germany have succeeded in perplexing posterity, as
being of relatively greater repute and wider acceptance, and because it
is a simply impossible task to combine all the denominations of these
coins, in order to deduce an average.
Up to 1375 the German gold coin was minted in close imitation of the
Florentine florin. The weight was 53 grs., as was that of the Florentine
piece; and the lily and St. John, the guardian saint of Florence, were
both employed in the two coins, the German piece being indeed issued at
first under the denomination, _Florin d'or_.
Public-domain text, read in full here on John Shaqi.
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