The Rise of the European Economy: An Economic History of Continental Europe from the Fifteenth to the Eighteenth Century

By Hermann Kellenbenz; Gerhard Benecke | Go to book overview

VI Money, Credit and
Insurance

The volume of bullion in circulation in Europe as coinage increased dramatically in the sixteenth century as a result of continued silver and gold rushes. In the eighteenth century Mexico and Brazil produced most but older mining regions such as central Europe and Peru continued to supply significant amounts. The Brazilian gold mines of Minas Geraes helped to double gold production from 10,000 to 19,000 kilogrammes per year in the eighteenth century. European gold came from Salzburg, Transylvania and the Urals. Easier extraction of silver led to its cheapening against the value of gold, from the ratio of I:II to I:15. More gold was actually minted in eighteenth‐ century Europe than ever before. Yet the majority of coins circulating remained of copper and silver alloys. In France the Louis d'argent or écu blanc of 60 sous, equivalent to the German Taler piece, had been introduced in 1641. French coinage regularly fell in value, especially during Louis XIV's wars. This led to John Law's paper-money experiment in Paris in the early eighteenth century. When the crash came it destroyed any advance in French banking for the rest of the century. French minting of gold coinage, the famous Louis d'or, continued for prestige reasons.

In Germany the large silver Taler remained remarkably stable, although small silver coins regularly depreciated in value after the end of the Thirty Years' War. Over-spending by territorial courts, armies and bureaucracies, as well as falling production of silver from central European mines, led to debased silver coins being struck in the second half of the eighteenth century on a scale reminiscent of the early 1620s.

Saxony led the way in coinage regulation after the 1660s.

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Rise of the European Economy: An Economic History of Continental Europe from the Fifteenth to the Eighteenth Century
Table of contents

Table of contents

  • The Rise of the European Economy *
  • Contents *
  • Foreword *
  • Introduction *
  • Part One- The Economic Development of Continental Europe 1500- 1630 *
  • I- Population Movements *
  • II- Organization of Production *
  • III- Production *
  • IV- Service Industries *
  • V- Prices and Wages *
  • Part Two- The Economic Development of Continental Europe 1630-1750 194
  • I- Intellectual Movements *
  • II- Population Movements *
  • III- State Planning and the Economy *
  • IV- Production *
  • Service Industries *
  • VI- Money, Credit and Insurance *
  • VII- Conclusion *
  • Select Bibliography *
  • Index *
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 354

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.