The Dutch guilder or fl. was the currency of the Netherlands from the 17th century until 2002, when it was replaced by the euro. Between 1999 and 2002, the guilder was officially a national subunit of the euro, physical payments could only be made in guilder, as no euro coins or banknotes were available. The Netherlands Antillean guilder is still in use in Curaçao and Sint Maarten, in 2004, the Surinamese guilder was replaced by the Surinamese dollar. The Dutch name gulden was a Middle Dutch adjective meaning golden, the symbol ƒ or fl. for the Dutch guilder was derived from another old currency, the florin, called the florin in English. The exact exchange rate, still relevant for old contracts and for exchange of the old currency for euros at the bank, is 2.20371 Dutch guilders for 1 euro. Inverted, this gives EUR0.453780 for NLG1, before the introduction of the first guilder, there were regional and foreign golden coins that were likely referred to as gulden in Dutch. The first internationally accepted Dutch coin called gulden dates from 1517, even before that, the County of Holland had minted golden coins since 1378.
An early guilder, a 10. 61-gram.910 silver coin, was minted by the States of Holland and this guilder was divided into 20 stuivers, each of 8 duiten or 16 penningen. The guilder gradually replaced other silver coin circulating in the United Netherlands, the florijn, the daalder, the rijksdaalder, the silver ducat. Between 1810 and 1814, the Netherlands was annexed to France, after the Napoleonic wars, the Kingdom of the Netherlands readopted the guilder. In 1817 it became decimalised, with one guilder equal to 100 cents, until 1948, the plural of cent used on coins was centen, after that it was cent. The Netherlands was initially on a standard, with the guilder equal to 605.61 milligrams of fine gold or 9.615 grams of fine silver. In 1840, the standard was adjusted to 9.45 grams. In 1875, the Netherlands adopted a standard with 1 guilder equal to 604.8 milligrams of fine gold. The gold standard was suspended between 1914 and 1925 and was abandoned in 1936, following the German occupation, on 10 May 1940, the guilder was pegged to the Reichsmark at a rate of 1 guilder =1.5 Reichsmark.
This rate was reduced to 1.327 on 17 July of the same year, the liberating Allied forces set an exchange rate of 2.652 guilders =1 U. S. dollar, which became the peg for the guilder within the Bretton Woods system. In 1949, the peg was changed to 3.8 guilders =1 dollar, in 1961, the guilder was revalued to 3.62 guilders =1 dollar, a change approximately in line with that of the German mark. After 1967 guilders were made from nickel instead of silver, in 2002, the guilder was replaced by the euro at an exchange rate of 2.20371 guilders =1 Euro
Dollar is the name of more than twenty currencies, including those of the United States, Australia, Hong Kong, New Zealand, Liberia and Namibia. Generally, one dollar is divided into one hundred cents, on 15 January 1520, the Czech Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal and marked on reverse with the Czech lion. The coins were called joachimsthaler, which became shortened in common usage to thaler or taler, the German name Joachimsthal literally means Joachims valley or Joachims dale. A Dutch coin depicting a lion was called the leeuwendaler or leeuwendaalder, the Dutch Republic produced these coins to accommodate its booming international trade. The leeuwendaler circulated throughout the Middle East and was imitated in several German and Italian cities and this coin was popular in the Dutch East Indies and in the Dutch New Netherland Colony. It was in throughout the Thirteen Colonies during the 17th. The currencies of Romania and Bulgaria are, to this day, the modern American-English pronunciation of dollar is still remarkably close to the 17th century Dutch pronunciation of daler.
Some well-worn examples circulating in the Colonies were known as dog dollars, Spanish pesos – having the same weight and shape – came to be known as Spanish dollars. By the time of the American Revolution, Spanish dollars gained significance because they backed paper money authorized by the individual colonies, common in the Thirteen Colonies, Spanish dollars were even legal tender in one colony, Virginia. On April 2,1792, U. S. Secretary of the Treasury Alexander Hamilton reported to Congress the precise amount of found in Spanish dollar coins in common use in the states. As a result, the United States dollar was defined as a unit of silver weighing 371 4/16th grains. It was specified that the money of account of the United States should be expressed in those same dollars or parts thereof, in an act passed in January 1837, the dollars alloy was set at 15%. Subsequent coins would contain the amount of pure silver as previously. On February 21,1853, the quantity of silver in the coins was reduced.
However, the dollars constitutional meaning has remained unchanged through the years, silver was mostly removed from U. S. coinage by 1965 and the dollar became a free-floating fiat currency without a commodity backing defined in terms of real gold or silver. The US Mint continues to make silver $1-denomination coins, but these are not intended for general circulation, there are many quotes in the plays of William Shakespeare referring to dollars as money. This might be supported by a reference to the sum of ten dollars in Macbeth. In 1804, a British five-shilling piece, or crown, was sometimes called dollar and it was an overstruck Spanish eight real coin, the original of which was known as a Spanish dollar
Florin derives from the city of Florence in Italy and frequently refers to the gold coin struck in 1252. Recent research indicates that the florin was once the dominant currency of Europe until accommodative policymaking led to the loss of its status as the de facto reserve currency. By 1419, the weight had been reduced and the alloy was substantially reduced. By 1626, the alloy had been reduced again, while the weight was more substantially reduced. In 1409, the Rheingulden standard was adopted for the Holy Roman Empires Reichsgulden
The Louisiana Purchase was the acquisition of the Louisiana territory by the United States from France in 1803. The U. S. paid fifty million francs and a cancellation of debts worth eighteen million francs for a total of sixty-eight million francs, the Louisiana territory included land from fifteen present U. S. states and two Canadian provinces. Its non-native population was around 60,000 inhabitants, of whom half were African slaves, the Kingdom of France controlled the Louisiana territory from 1699 until it was ceded to Spain in 1762. Napoleon in 1800, hoping to re-establish an empire in North America, Frances failure to put down the revolt in Saint-Domingue, coupled with the prospect of renewed warfare with the United Kingdom, prompted Napoleon to sell Louisiana to the United States. The Americans originally sought to purchase only the city of New Orleans and its adjacent coastal lands. The Louisiana Purchase occurred during the term of the third President of the United States, before the purchase was finalized, the decision faced Federalist Party opposition, they argued that it was unconstitutional to acquire any territory.
Constitution did not contain provisions for acquiring territory, but he asserted that his constitutional power to negotiate treaties was sufficient. Throughout the second half of the 18th century, Louisiana was a pawn on the chessboard of European politics and it was controlled by the French, who had a few small settlements along the Mississippi and other main rivers. Following French defeat in the Seven Years War, Spain gained control of the territory west of the Mississippi, the United States controlled the area east of the Mississippi and north of New Orleans. The main issue for the Americans was free transit of the Mississippi to the sea, as the lands were being gradually settled by a few American migrants, many Americans, including Jefferson, assumed that the territory would be acquired piece by piece. The risk of power taking it from a weakened Spain made a profound reconsideration of this policy necessary. New Orleans was already important for shipping goods to and from the areas of the United States west of the Appalachian Mountains.
Pinckneys Treaty, signed with Spain on October 27,1795, gave American merchants right of deposit in New Orleans, Americans used this right to transport products such as flour, pork, lard, cider and cheese. The treaty recognized American rights to navigate the entire Mississippi, in 1798 Spain revoked this treaty, prohibiting American use of New Orleans, and greatly upsetting the Americans. In 1801, Spanish Governor Don Juan Manuel de Salcedo took over from the Marquess of Casa Calvo, Napoleon Bonaparte had gained Louisiana for French ownership from Spain in 1800 under the Third Treaty of San Ildefonso, but the treaty was kept secret. Louisiana remained nominally under Spanish control, until a transfer of power to France on November 30,1803, another ceremony was held in St. Louis a few months later, in part because during winter conditions the news of the New Orleans formalities did not reach Upper Louisiana. The March 9–10,1804, event is remembered as Three Flags Day, James Monroe and Robert R.
Livingston had traveled to Paris to negotiate the purchase of New Orleans in January 1803. Their instructions were to negotiate or purchase control of New Orleans and its environs, the Louisiana Purchase was by far the largest territorial gain in U. S. history
Methods of coin debasement
Coin debasement is the act of decreasing the amount of precious metal in a coin, while continuing to circulate it at face value. This was frequently done by governments in order to inflate the amount of currency in circulation, some of the precious metal was replaced by a cheaper metal when the coin was minted. But when done by an individual, precious metal was removed from the coin. Coin debasement was effected by several methods, including clipping and sweating, until the mid-20th century, coins were often made of silver or gold, which were quite soft and prone to wear. This meant coins naturally got lighter as they aged, so coins that had lost an amount of bullion would go unnoticed. Modern coins are made of hard, cheap metals such as steel, copper or an alloy, reducing wear and making it difficult. Clipping is the act of shaving off a portion of a precious metal coin for profit. Over time, the precious metal clippings could be saved up, coin clipping is why many coins have the rim of the coin marked with stripes, text or some other pattern that would be destroyed if the coin were clipped.
This practice is attributed to Isaac Newton, who was appointed Master of the Mint in 1699, in the process of sweating, coins were placed in a bag and shaken. The bits of metal that had worn off the coins were recovered from the bottom of the bag, sweating tended to wear the coin in a more natural way than clipping, and so was harder to detect. If the coin was large, a hole could be punched out of the middle, or the coin could be sawed in half, and a plug of metal extracted from the interior. After filling the hole with a metal, the two halves would be welded back together again. Verbal references to plugged quarters and plugged dimes eventually yielded the common phrase not worth a plugged nickel, the history and theory of money
France in the Middle Ages
From the 13th century on, the state slowly regained control of a number of these lost powers. The crises of the 13th and 14th centuries led to the convening of an assembly, the Estates General. From the Middle Ages onward, French rulers believed their kingdoms had natural borders, the Pyrenees, the Alps and this was used as a pretext for an aggressive policy and repeated invasions. The belief, had little basis in reality for not all of territories were part of the Kingdom. France had important rivers that were used as waterways, the Loire, the Rhone and these rivers were settled earlier than the rest and important cities were founded on their banks but they were separated by large forests and other rough terrains. Before the Romans conquered Gaul, the Gauls lived in villages organised in wider tribes, the Romans referred to the smallest of these groups as pagi and the widest ones as civitates. These pagi and civitates were often taken as a basis for the imperial administration and these religious provinces would survive until the French revolution.
Discussion of the size of France in the Middle Ages is complicated by distinctions between lands personally held by the king and lands held in homage by another lord, the domaine royal of the Capetians was limited to the regions around Paris and Sens. The great majority of French territory was part of Aquitaine, the Duchy of Normandy, the Duchy of Brittany, the Comté of Champagne, the Duchy of Burgundy, and other territories. Philip II Augustus undertook a massive French expansion in the 13th century, only in the 15th century would Charles VII and Louis XI gain control of most of modern-day France. The weather in France and Europe in the Middle Ages was significantly milder than during the preceding or following it. Historians refer to this as the Medieval Warm Period, lasting from about the 10th century to about the 14th century, part of the French population growth in this period is directly linked to this temperate weather and its effect on crops and livestock. At the end of the Middle Ages, France was the most populous region in Europe—having overtaken Spain, in the 14th century, before the arrival of the Black Death, the total population of the area covered by modern-day France has been estimated at around 17 million.
The population of Paris is controversial, josiah Russell argued for about 80,000 in the early 14th century, although he noted that some other scholars suggested 200,000. The higher count would make it by far the largest city in western Europe, the Black Death killed an estimated one-third of the population from its appearance in 1348. The concurrent Hundred Years War slowed recovery and it would be the mid-16th century before the population recovered to mid-fourteenth century levels. The vast majority of the population spoke a variety of vernacular languages derived from vulgar Latin. Modern linguists typically add a group within France around Lyon
La Rochelle is a city in southwestern France and a seaport on the Bay of Biscay, a part of the Atlantic Ocean. It is the capital of the Charente-Maritime department, the city is connected to the Île de Ré by a 2. 9-kilometre bridge completed on 19 May 1988. Its harbour opens into a protected strait, the Pertuis dAntioche, the area of La Rochelle was occupied in antiquity by the Gallic tribe of the Santones, who gave their name to the nearby region of Saintonge and the city of Saintes. The Romans subsequently occupied the area, where they developed salt production along the coast as well as wine production, roman villas have been found at Saint-Éloi and at Les Minimes, as well as salt evaporation ponds dating from the same period. La Rochelle was founded during the 10th century and became an important harbour in the 12th century, in 1137, Guillaume X to all intents and purposes made La Rochelle a free port and gave it the right to establish itself as a commune. Fifty years Eleanor of Aquitaine upheld the communal charter promulgated by her father, and for the first time in France, Guillaume was assisted in his responsibilities by 24 municipal magistrates, and 75 notables who had jurisdiction over the inhabitants.
During the Plantagenet control of the city in 1185, Henry II had the Vauclair castle built, the main activities of the city were in the areas of maritime commerce and trade, especially with England, the Netherlands and Spain. In 1196, a wealthy bourgeois named Alexandre Auffredi sent a fleet of seven ships to Africa to tap the riches of the continent. He went bankrupt and went into poverty as he waited for the return of his ships, the Knights Templar had a strong presence in La Rochelle since before the time of Eleanor of Aquitaine, who exempted them from duties and gave them mills in her 1139 Charter. La Rochelle was for the Templars their largest base on the Atlantic Ocean, from La Rochelle, they were able to act as intermediaries in trade between England and the Mediterranean. The fleet allegedly left laden with knights and treasures just before the issue of the warrant for the arrest of the Order in October 1307, during the Hundred Years War in 1360, following the Treaty of Bretigny La Rochelle again came under the rule of the English monarch.
La Rochelle however expelled the English in June 1372, following the naval Battle of La Rochelle, the French and Spanish decisively defeated the English, securing French control of the Channel for the first time since the Battle of Sluys in 1340. The naval battle of La Rochelle was one of the first cases of the use of handguns on warships, having recovered freedom, La Rochelle refused entry to Du Guesclin, until Charles V recognized the privileges of the city in November 1372. In 1402, the French adventurer Jean de Béthencourt left La Rochelle, until the 15th century, La Rochelle was to be the largest French harbour on the Atlantic coast, dealing mainly in wine and cheese. During the Renaissance, La Rochelle adopted Protestant ideas, calvinism started to be propagated in the region of La Rochelle, resulting in its suppression through the establishment of Cours présidiaux tribunals by Henry II. An early result of this was the burning at the stake of two heretics in La Rochelle in 1552. On the initiative of Gaspard de Coligny, the Calvinists attempted to colonize the New World to find a new home for their religion, with the likes of Pierre Richier and Jean de Léry.
After the short-lived attempt of France Antarctique, they failed to establish a colony in Brazil and he has been described, by Lancelot Voisin de La Popelinière, as le père de léglise de La Rochelle
The Louis dor is any number of French coins first introduced by Louis XIII in 1640. The name derives from the depiction of the portrait of King Louis on one side of the coin, the coin was replaced by the French franc at the time of the revolution and the similarly valued Napoleon. The actual value of the coins fluctuated according to monetary and fiscal policy, the 1640 issue of Louis d’or contained five denominations, a half Louis and a one, two and eight Louis. All subsequent issues through 1793 were only denominated in half, the Louis dor replaced the franc which had been in circulation since John II of France. In actual practice the gold coin circulating in France in the earlier 17th century had been Spanish. There existed a half-Louis coin and a two-Louis coin, the Louis dor fixed several problems with previous French gold coinage. Louis XIII previously struck coins from 23 carat gold even though Charles V had made 22 carats the de facto standard for gold coinage a century earlier. Royal edicts had set the values of his gold coins so low that it was profitable to export them.
Since they were made by hand, cheaters could shave bits of gold from the edges of the coins before passing them on. To fix this, Jean Varin, a medalist from Liège, the new demi Louis dor maintained the weight of the old écu d’or, but decreasing its fineness to 22 carats, allowing it to circulate at a value of five livres. Its double, the Louis dor had the weight and fineness of the Spanish pistole, smaller values were available through a number of silver coins – the écu, available in ½, ¼ and ⅛ écu denominations – and copper coins. The Louis dor under Louis XIII had a dimension of about 25 mm, the kings head turned to the right with the motto LVD XIII DG – FR ET NAV REX. Verso, the monogram and the motto CHRS REGN VINC IMP. Engraver, Jean Varin The Louis dor under Louis XIV was similar in most respects to its predecessor and had a dimension of +/-25 mm, the kings head turned to the right with the motto LVD XIV DG – FR ET NAV REX. Verso, the monogram and the motto CHRS REGN VINC IMP. Engraver, Jean Varin Under Louis XV, mintage of the Louis d’or was at first reduced while John Law introduced paper money.
After Law’s system failed and Cardinal Fleury became Louis XV’s chief magistrate in 1726, France returned to a policy of sound money, the weight of the Louis d’or was now increased, it was revalued at 20 livres, and a commitment was made to maintain this valuation. This promise was kept until 1740 when the louis d’or was revalued to 24 livres and this was the last devaluation until the French revolution replaced the louis d’or by the franc
Henry III of France
Henry III was a monarch of the House of Valois who was elected the monarch of the Polish-Lithuanian Commonwealth from 1573 to 1575 and ruled as King of France from 1574 until his death. He was the last French monarch of the Valois dynasty, as the fourth son of King Henry II of France and Catherine de Medici, Henry was not expected to assume the throne of France. He was thus a candidate for the vacant Commonwealth throne. Henrys rule over Commonwealth was brief, but notable, the Henrician Articles he signed into law accepting the Commonwealth throne established Poland as an elective monarchy subject to free election by the Polish nobility. Of his three brothers, two would live long enough to ascend the French throne, but both died young and without a legitimate male heir. He abandoned Commonwealth upon receiving word that he had inherited the throne of France at the age of 22, Henry III was himself a politique, arguing that a strong and religiously tolerant monarchy would save France from collapse.
Henry IIIs legitimate heir was his distant cousin Henry, King of Navarre, the Catholic League, led by Henry I, Duke of Guise, sought to exclude Protestants from the succession and championed the Catholic Charles, Cardinal of Bourbon, as Henry IIIs heir. Henry was born at the royal Château de Fontainebleau, the son of King Henry II and Catherine de Medici and grandson of Francis I of France. His older brothers were Francis II of France, Charles IX of France and he was made Duke of Angoulême and Duke of Orléans in 1560, Duke of Anjou in 1566. He was his mothers favourite, she called him chers yeux and lavished fondness and his elder brother, grew to detest him, partially because he resented his better health. In his youth, Henry was considered the best of the sons of Catherine de Medici, unlike his father and elder brothers, he had little interest in the traditional Valois pastimes of hunting and physical exercise. Although he was fond of fencing and skilled in it, he preferred to indulge his tastes for the arts.
These predilections were attributed to his Italian mother, at one point in his youth he showed a tendency towards Protestantism as a means of rebelling. At the age of nine, calling himself a little Huguenot, he refused to attend Mass, sang Protestant psalms to his sister Margaret and his mother firmly cautioned her children against such behaviour, and he would never again show any Protestant tendencies. Instead, he became nominally Roman Catholic, reports that Henry engaged in same sex relations with his court favourites, known as the mignons, date back to his own time. Certainly he enjoyed relationships with them. The scholar Louis Crompton provides substantial contemporary evidence of Henry IIIs homosexuality, and it is difficult, he writes, to reconcile the king whose use of favourites is so logically strategic with the man who goes to pieces when one of them dies. In 1570, discussions commenced to arrange for Henry to court Queen Elizabeth I of England, almost 37, was expected by many parties in her country to marry and produce an heir
The sequin is a gold coin weighing 3.5 grams of.986 gold, minted by the Republic of Venice from the 13th century onwards. The design of the Venetian gold ducat, or zecchino, remained unchanged for over 500 years, no other coin design has ever been produced over such a long historical period. The 500-year run of the zecchino is unique in history, the reverse bears a motto in Latin hexameter, Sit tibi, datus // quem tū regis, iste ducātus. The name of the mint ultimately derives from Arabic, سكّة, following the Venetian model, similar coins were used for centuries throughout the Mediterranean. After two hundred years of continuous production, the Byzantine Empire imitated with the basilikon. In 1478, the Ottoman Empire introduced a similar unit, in 1535, the Knights Hospitaller of Malta did so. The Ottoman and the Maltese coins were gold, coin collectors often try to accumulate a complete set of zecchini of all the Doges
Henry IV of France
Henry IV, known by the epithet Good King Henry, was King of Navarre from 1572 to 1610 and King of France from 1589 to 1610. He was the first French monarch of the House of Bourbon, baptised as a Catholic but raised in the Protestant faith by his mother Jeanne dAlbret, Queen of Navarre, he inherited the throne of Navarre in 1572 on the death of his mother. As a Huguenot, Henry was involved in the French Wars of Religion, barely escaping assassination in the St. Bartholomews Day massacre, and led Protestant forces against the royal army. Henry, as Head of the House of Bourbon, was a direct descendant of Louis IX of France. Upon the death of his brother-in-law and distant cousin Henry III of France in 1589 and he initially kept the Protestant faith and had to fight against the Catholic League, which denied that he could wear Frances crown as a Protestant. To obtain mastery over his kingdom, after four years of stalemate, as a pragmatic politician, he displayed an unusual religious tolerance for the era.
Notably, he promulgated the Edict of Nantes, which guaranteed religious liberties to Protestants and he was assassinated in 1610 by François Ravaillac, a fanatical Catholic, and was succeeded by his son Louis XIII. Considered a usurper by some Catholics and a traitor by some Protestants, an unpopular king immediately after his accession, Henrys popularity greatly improved after his death, in light of repeated victories over his enemies and his conversion to Catholicism. The Good King Henry was remembered for his geniality and his concern about the welfare of his subjects. He was celebrated in the popular song Vive le roi Henri, Henry was born in Pau, the capital of the joint Kingdom of Navarre with the sovereign principality of Béarn. His parents were Queen Joan III of Navarre and her consort, Antoine de Bourbon, Duke of Vendôme, although baptised as a Roman Catholic, Henry was raised as a Protestant by his mother, who had declared Calvinism the religion of Navarre. As a teenager, Henry joined the Huguenot forces in the French Wars of Religion, on 9 June 1572, upon his mothers death, he became King of Navarre.
At Queen Joans death, it was arranged for Henry to marry Margaret of Valois, daughter of Henry II, the wedding took place in Paris on 18 August 1572 on the parvis of Notre Dame Cathedral. On 24 August, the Saint Bartholomews Day Massacre began in Paris, several thousand Protestants who had come to Paris for Henrys wedding were killed, as well as thousands more throughout the country in the days that followed. Henry narrowly escaped death thanks to the help of his wife and he was made to live at the court of France, but he escaped in early 1576. On 5 February of that year, he formally abjured Catholicism at Tours and he named his 16-year-old sister, Catherine de Bourbon, regent of Béarn. Catherine held the regency for nearly thirty years, Henry became heir presumptive to the French throne in 1584 upon the death of Francis, Duke of Anjou and heir to the Catholic Henry III, who had succeeded Charles IX in 1574. Because Henry of Navarre was the senior agnatic descendant of King Louis IX, King Henry III had no choice