The Origin of Metallic Currency and Weight StandardsRidgeway, William
History
The Origin of Metallic Currency and Weight Standards
Ridgeway, William
Money -- Origin; Weights and measures -- History
Now we have already adverted to the fact that the earliest Sicilian
towns which coined money, Naxos, Zancle and Himera, although Chalcidian
colonies, yet employed the Aeginetic standard, whereas we might naturally
expect them to follow the Euboic. This would give the maximum of 16½
grs. for the silver obol. Now according to Pollux, Aristotle in his lost
treatise on the constitution of Agrigentum says that the litra is worth
an Aeginetan obol, and Pollux goes on to say that “one would find in him
(Aristotle) in his Constitution of the Himeraeans likewise other names of
Sicilian coins, such as _ungia_, which is equivalent to one _chalcus_,
and _hexas_, which is equivalent to two _chalci_, and _trias_, which
is equivalent to three _chalci_, and _hemilitron_ (half litra), which
is equivalent to six, and litra which is equivalent to an obol[420].”
It is plain from this that Aristotle knew that the Aeginetic obol was
divided into _twelve chalci_. Thus the proposition laid down above, that
the ancient Greek copper obol was a rod or spike divided into 12 parts,
is thoroughly proved. The reason why the Attic obol had only 8 _chalci_
is now plain; it was, as we saw, only two-thirds of the Aeginetan and
consequently only contained two-thirds of the whole number of pieces
of copper into which the ancient copper unit was divided. Now, as we
find the Chalcidian settlers of Himera and other places not using their
native Euboic standard for coining, but employing the Aeginetic, and as
the Aeginetic obol was equal to the Sicilian litra, we are justified in
the conclusion, that when the Greek settlers reached Italy and Sicily
they found their Italic kinsfolk using a copper unit exactly the same as
that employed in Greece; and that finally, when they began to coin, they
found it more convenient to strike silver on a standard which was both
convenient in reference to exchange with gold, as I have shown above,
and had the further advantage of corresponding accurately in value to
the ancient copper unit in use among the Sicels. If, as I indicated,
silver was to copper as 300:1, the Aeginetic silver obol of 16⅔ grs.
would be worth 5000 grs. of copper (practically the same as the early
Roman _libra_). It follows then that if we could only discover the weight
of the Sicilian litra we should know that of the old Greek _copper_
obol. Is this possible? We have no reason to doubt that the obol was a
rod of copper of a certain size, which in the course of time after the
introduction of coined money shrank up until the original rod was only
represented by what had been its equivalent in silver, or a small copper
coin, whose name still survives in the _ob_ used in old account books
as the symbol for _half-penny_[421]. The Greek coinage has preserved
for us but faint traces of the various steps in the degradation of the
copper obol, but, as we have already seen, we find the Sicilian copper
litra in various stages of its decadence from 990 grs. down to 200 grs.
Public-domain text, read in full here on John Shaqi.
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