Monetary denominations, and probably off-topic

Grant Barrett gbarrett at MONICKELS.COM
Fri Mar 9 10:12:35 UTC 2001

To bring together a couple of thoughts that have appeared on this list recently,
including the mention of Gresham's Law, the naming history of money, the shortage of
coins in the young US, and Lynne's mention of Canadian coins being used in the States as
valid tender, I recommend an article titled "The Economic Crisis of 1619 to 1623" by
Charles P. Kindleberger in the Journal of Economic History (vol. 51, iss. 1, March
1991, pp 149-175). Available on JSTOR, if you have access.

Aside from his main topic, he talks about Kipper- und Wipperzeit,
Joachimstal/thaler/dollar, Gresham's Law, currency debasement and the mish-mash of coins used as
currency by European nations before standardization ("...There were as many as 50
different, mainly foreign, coins, 22 gold and 29 silver, circulating in Milan. Still later, in
1816, at least 70 coins--from Holland, France, Belgium, and various German
states--circulated in the Rhineland, and Prussian coins were rarely seen despite the efforts
of Prussian officials to enforce rules against the use of older and foreign coins.")

Grant Barrett
New York loves you back.

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