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From Silver to Cocaine.Pdf
Carlos Marichal, “The Spanish American Silver Peso: Export Commodity and Global Money of the Ancien Regime (16th-18th centuries” ) draft of essay published in Steven Topik, Carlos Marichal and Zephyr Frank titled Latin American Commodity Chains and the Building of Global Economy, (XVI-XXth Centuries), Duke University Press, 2006, pp. 25-52. The Spanish American Silver Peso: Export Commodity and Global Money of the Ancien Regime (16th-18th centuries) Carlos Marichal The legacy of the monetary regime of the Spanish empire is not only an important chapter in world economic history but also key to an understanding of premodern monetary systems. The international diffusion of the Spanish American silver peso between the sixteenth and eighteenth centuries transformed it into what could be termed as an almost universal, metallic money. The reasons for the global trade and circulation of this commodity money can be explained by the dynamics of supply and demand. On the supply side, the silver mines of Spanish America were the richest in the world and allowed for a voluminous and rising production of high-value bars and coins for several centuries. On the demand side, it is clear that silver (and gold) were long the most highly valued money commodities in ancien regime societies and economies since metallic currencies tended to be dominant as medium of exchange in a large range of transactions. In this regard, analysis of the extraordinary historical and geographical trajectories of the silver peso in the Americas, Europe, the Mideast and Asia between the sixteenth and early nineteenth centuries can elucidate important aspects of premodern processes of globalization. -
Coinage Act, 1873 [United States]
Volume II The Heyday of the Gold Standard, 1820-1930 1873 February 12 Coinage Act, 1873, United States: “An Act revising and amending the Laws relative to the Mints, Assay, offices, and Coinage of the United States.” With the passage of this Act, the US Congress demonetised silver and established its participation in the international gold standard. This effectively ended the official bimetallism that had existed in the United States since 1792 and demonetised silver. Initially, the consequences were limited as silver had been undervalued at the old 15:1 ratio; however, as demand for gold rose, a return to silver became increasingly attractive to those who suffered from the subsequent deflation—primarily farmers who witnessed dramatic reductions in commodity prices. Those who blamed the deflation for their financial woes came to refer to the Coinage Act as the ‘Crime of 1873’. ——— Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the mint of the United States is hereby established as a bureau of the Treasury Department, embracing in its organization and under its control all mints for the manufacture of com, and all assay offices for the stamping of bars, which are now, or which may be hereafter, authorized by law. The chief officer of the said bureau shall be denominated the director of the mint, and shall be under the general direction of the Secretary of the Treasury. He shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for the term of five years, unless sooner removed by the President, upon reasons to be communicated by him to the Senate. -
History of the United States Silver Dollar
Created by: Lane J. Brunner, Ph.D. Rod Gillis Numismatic Educator Mint Act of April 2, 1792 Philadelphia was only location Mint officials had to post $10,000 bond (Five times the Director’s annual salary!) First coins struck in 1793 Only copper cents and half-cents Congress lowered bond to $6,000 March 1794 silver dollars were struck Dies prepared in 1793 by Robert Scot An impression emblematic of Liberty Inscription of the word LIBERTY Year of coinage Representation of an eagle Inscribed UNITED STATES OF AMERICA No denomination HUNDRED CENTS ONE DOLLAR OR UNIT 1485/1664 silver and 179/1664 copper Fineness of 0.8924 Assayer Albion Cox complained Director David Rittenhouse allowed for higher fineness of 0.900 (illegal!) Depositors lost money on transaction Total of 2,000 pieces struck One pair of dies All struck in one day Net mintage of 1,758 120-130 surviving examples New obverse design after one year Design change corresponded with new Mint Director Henry William DeSaussure Matured Liberty Buxom Roman Matron Philadelphia socialite Ann Willing Bingham Reverse design slightly refined Still no denomination Dollar remained the flagship denomination Improved technology and quality Obverse design now with 13 stars Reverse was a heraldic eagle Iconography “blunder” Mint reports of dollars produced in 1804 Coins were struck in 1834 for diplomats Later restrikes in 1850’s All are unofficial “fantasy” pieces 15 known specimens In 1999 Childs specimen sold for $4.14 M No dollars produced since 1803 -
SCALES! Fast-Flyin- Increasing the to the Consumer Washisoto.N, March the Riciimo.Id
Tbe Exceptions. that be breaks ilown the iiistrmiii lit' your 1 osoin, on whom you h.,ve lav- A SKHMOX TO CAMHLEIiS TllK LKVKK IillOKlJ He T lisd a orheme no the fellow eonlt Owlnosvlll6OutlooK. tiod never made a man strong dough ished nil the favors of your ilccliniutf make 10.in) as easily a turning over hi to endure the wear nnd tear of gam- years. Hut should n feeling of joy w m band, but the fnol wouldn't go into it. Withering Influ- D. & BST1LU Blight and Pernicious bling excitements. for u moment spring iiii in your And Sh.iwneetown, III., is Under From She Then a fool and hi money are nor rubtlsucr. always ences of the Gaming Table. A man In- INTERESTING STATE NEWS. n easily parted after all. Yonkera young having suddenly hearts when you should receive this Twenty or Thirty Feet of Water. Statesman. OWINiJSVIM.E. : KEXTUt KV herited a large property, sits at the from me cherish it not. 1 have fallen 4ft - tim s,, hazard tables uud takes up in a dice deep, never to rise. Those gray 5naKrtlaa- m Remedy. Oiher t ice ttdaona and Itanventna, Ilvrr Two lliinrirrtl l.lvist Vrr l.in.1 lly th it Olht-- r Inix the estate won by a life- 1 should have honored .lamr I'm at a loss to know what nod Ni Take on hit Many Al- father's hairs, that Nitililfn tif llmi Mr. I tliintimcht ttslfnt- to tlo for mv hiisliund: he suffers owwa.wVi luring l iirnts IMrtture liy Krv. -
Title the Japanese Currency Policy and the British Banks in Asia In
The Japanese Currency Policy and the British Banks in Asia in Title 1870s-1890s Author(s) MOTOYAMA, Yoshihico; YOKOYAMA, Shisei Citation The Kyoto University Economic Review (1995), 64(1): 1-8 Issue Date 1995-02 URL https://doi.org/10.11179/ker1926.64.1 Right Type Departmental Bulletin Paper Textversion publisher Kyoto University THE KYOTO UNIVERSITY ECONOMIC REVIEW MEMOIRS OFTHE FACULTY OF ECONOMICS KYOTO UNIVERSITY VOLUME LXIV NUMBER 1 (APRIL 1994) WHOLE NUMBER 136 The Japanese Currency Policy and the British Banks in Asia in 1870s - 1890s 牢 ( Yoshihiko MOTOYAMA'" and Shisei YOKOYAMA I The Silver Dollar and the Japanese Silver Yen in Asia before 1897 In Asia before l870s , Spanish silver dollars (including Mexican dollars) were the most familiar and influential import from the West. They were widely circulated in Asia from the sixteenth to the middle of the nineteenth century. But they were generally less favoured by most Asian Government , though they were made legal tender in Singapore in 1867. During the 1870s, the value of silver beュ gan to depreciate. This meant the opening the “ T rade Dollar Era". Western countries began to mint and export silver trade dollars for circulation in silver-using countries. The Hong Kong dollar was minted in 1866, the US trade dollar in 1873, and the British dollar in 1895. They did so beュ cause the value of silver in silver-using countries , particularly in China , were not depreciating at the same rate as it was in the Western Countries. So they wanted their own trade dollar to replace Mexュ ican dollars in Asia. -
Strike Keeps Student-Teachers Home by EILEEN STUDNICKY Inside When the New Castle County Teachers
Voi.102,No. 13 UNIVERSITY OF DELAWARE, NEWARK. DEL Friday. October 20. 1978 I On the Strike Keeps Student-Teachers Home By EILEEN STUDNICKY Inside When the New Castle County teachers . decided to walk off of their jobs on Monday, . they not only held up education for elemen tary and high school students; 122 universi Shockley ty seniors student-teaching this semester are sitting at home too. ~t' Has Spoken "Students do not ~ross picket lines, ac ~ cording to university policy," said Director ,;'3\ But the crowd was more of Clinical Studies Angela B. Case. entertaining than the lecture The university's regulation concerning ....................... p. 3 teacher strikes states: "If the strike is not settled within five teaching days, the University of Delaware will remove the , student teachers and place them in another district for the duration of the s~mester." Nixon Nixon Because of· the problems involved in Many Republican candidates transferring student-teachers from district to district, Case said she will begin don't want the former Presi· transferring them October 30, ten days dent campaigning for them after the strike began. "We are gearing up ....................... p. 7 so that if things are not settled within ten days these students will have placement," she said. Since the strike began student-~eachers at , the elementary school level have been tak You Are What ing seminars that would otherwise have been spread over the course of the You Eat semester, according to Case. Most students who will teach in secon· And UD students should all dary schools are taking exams this week, be extras in the movie according to Dr. -
The Most Worshipful Grand Lodge of A.F. & A. M. of the State of Illinois
2020 - 2021 The Most Worshipful Grand Lodge of A.F. & A. M. of the State of Illinois "I ask of each Mason, of each member, of each brother, that he shall remember ever that there is upon him a peculiar obligation to show himself in every respect, a good citizen” Bro. Theodore Rosevelt I REMEMBER When I think of these words, many thoughts rush into my mind. Most of all, what comes to me are the many things I have promised to God, my loved ones and my fraternity. What I have promised to God and my loved ones are specific to them, but we, my brethren, we have a common connection: the promises we all made at the Altar. When I look back on my obligations and all of the promises I made, things I said I would do and things I said I would not do, I feel inspired. I am compelled to aid and assist a worthy distressed brother Master Mason, to whisper good council, to support my brethren in their undertaken, to refrain from causing dissension, to tolerate, to forgive, and to love more. Remember that our obligations have to be undertaken out of free will and accord. Free will is an essential part of our nature. The certainty of the obligation involves the corresponding certainty of free will. Although the ceremony of obligation immediately concerns the Candidate, it should be clearly understood by all others that we too take on the obligation along with the candidate 'inwardly' so as to remind ourselves of it once again. -
History of the Coinage Act of 1873/ on April 25, 1870, the Secretary of the Treasury Transmitted the Following Letter to Hon
1876 CLX REPORT OF THE COMPTROLLER OP THE CURRENCY. History of the coinage act of 1873/ On April 25, 1870, the Secretary of the Treasury transmitted the following letter to Hon. John Sherman, chairman of the Finance Committee of the Senate: "TREASURY DEPARTMENT, April 25, 1870. u SIR : I have the honor to transmit herewith a bill revising the laws relative to the Mint, assay-offices, and coinage of the United States, and accompanying report. The bill has been prepared under the supervision of John Jay Knox, Deputy Comptroller of the Currency, and its passage is recommended in the form presented. It includes, in a, condensed form, all the important legislation upon the coinage, not now obsolete, since the first mint was established, in 1792; and the report gives a concise statement of the various amendments proposed to existing Jaws and the necessity for the change recom- mended. There has been no revision of the laws pertaining to the Mint and coinage since 1837, and it is believed that the passage of the inclosed bill will conduce greatly to the efficiency and economy of this important branch of the Government service. "I am, very respectfully, your obedient servant, "GEO. S. BOUTWELL, "Secretary of the Treasury.'7 The report and the bill were referred on April 28, 1870, to the Fiuance Committee of the Senate, and subsequently, on May 2, 1870, five hundred additional copies were ordered to be printed for the use of the Treasury Department. The report says : " The method adopted in the preparation of the bill was first to arrange in as concise a form as possible the laws now in existence upon these subjects, with such additional sections and suggestions as seemed valuable. -
The Wonderful World of Trade Dollars
The Wonderful World of Trade Dollars Lecture Set #34 Project of the Verdugo Hills Coin Club Photographed by John Cork & Raymond Reingohl Introduction Trade Dollars in this presentation are grouped into 3 categories • True Trade Dollars • It was intended to circulate in remote areas from its minting source • Accepted Trade Dollars • Trade dollar’s value was highly accepted for trading purposes in distant lands • Examples are the Spanish & Mexican 8 Reales and the Maria Theresa Thaler • Controversial Trade Dollars • A generally accepted dollar but mainly minted to circulate in a nation’s colonies • Examples are the Piastre de Commerce and Neu Guinea 5 Marks This is the Schlick Guldengroschen, commonly known as the Joachimstaler because of the large silver deposits found in Bohemia; now in the Czech Republic. The reverse of the prior two coins. Elizabeth I authorized this Crown This British piece created to be used by the East India Company is nicknamed the “Porticullis Crown” because of the iron grating which protected castles from unauthorized entry. Obverse and Reverse of a Low Countries (Netherlands) silver Patagon, also called an “Albertus Taler.” Crown of the United Amsterdam Company 8 reales issued in 1601 to facilitate trade between the Dutch and the rest of Europe. Crown of the United Company of Zeeland, minted at Middleburg in 1602, similar in size to the 8 reales. This Crown is rare and counterfeits have been discovered to deceive the unwary. The Dutch Leeuwendaalder was minted for nearly a century and began as the common trade coin from a combination of all the Dutch companies which fought each other as well as other European powers. -
Table 4. Hawaiian Newspaper Sources
OCS Study BOEM 2017-022 A ‘Ikena I Kai (Seaward Viewsheds): Inventory of Terrestrial Properties for Assessment of Marine Viewsheds on the Main Eight Hawaiian Islands U.S. Department of the Interior Bureau of Ocean Energy Management Pacific OCS Region August 18, 2017 Cover image: Viewshed among the Hawaiian Islands. (Trisha Kehaulani Watson © 2014 All rights reserved) OCS Study BOEM 2017-022 Nā ‘Ikena I Kai (Seaward Viewsheds): Inventory of Terrestrial Properties for Assessment of Marine Viewsheds on the Eight Main Hawaiian Islands Authors T. Watson K. Ho‘omanawanui R. Thurman B. Thao K. Boyne Prepared under BOEM Interagency Agreement M13PG00018 By Honua Consulting 4348 Wai‘alae Avenue #254 Honolulu, Hawai‘i 96816 U.S. Department of the Interior Bureau of Ocean Energy Management Pacific OCS Region August 18, 2016 DISCLAIMER This study was funded, in part, by the US Department of the Interior, Bureau of Ocean Energy Management, Environmental Studies Program, Washington, DC, through Interagency Agreement Number M13PG00018 with the US Department of Commerce, National Oceanic and Atmospheric Administration, Office of National Marine Sanctuaries. This report has been technically reviewed by the ONMS and the Bureau of Ocean Energy Management (BOEM) and has been approved for publication. The views and conclusions contained in this document are those of the authors and should not be interpreted as representing the opinions or policies of the US Government, nor does mention of trade names or commercial products constitute endorsement or recommendation for use. REPORT AVAILABILITY To download a PDF file of this report, go to the US Department of the Interior, Bureau of Ocean Energy Management, Environmental Studies Program Information System website and search on OCS Study BOEM 2017-022. -
Common Currencies: Precedents and Prospects
NORTH CAROLINA JOURNAL OF INTERNATIONAL LAW Volume 4 Number 1 Article 3 Summer 1978 Common Currencies: Precedents and Prospects Frank A. Southard Jr. Follow this and additional works at: https://scholarship.law.unc.edu/ncilj Part of the Commercial Law Commons, and the International Law Commons Recommended Citation Frank A. Southard Jr., Common Currencies: Precedents and Prospects, 4 N.C. J. INT'L L. 1 (1978). Available at: https://scholarship.law.unc.edu/ncilj/vol4/iss1/3 This Article is brought to you for free and open access by Carolina Law Scholarship Repository. It has been accepted for inclusion in North Carolina Journal of International Law by an authorized editor of Carolina Law Scholarship Repository. For more information, please contact [email protected]. Common Currencies: Precedents and Prospects by Frank A. Southard, Jr.* A common currency emerges when two or more political units use the same currency as their sole or predominant legal tender. It may be issued by one political unit (an independent country or a political de- pendency) and made legal tender in one or several other units, or it may be issued by an institution common to all the participating units. A common currency is to be distinguished from a monetary agree- ment by which a group of countries provides for some degree of inter- change of their currencies. 1 However, the distinction between the two becomes narrow in some cases. The Latin Monetary Union, organized in 1865 by Belgium, France, Italy and Switzerland, provided for standard coins which all public offices were required to accept, even though they were separately minted by each country. -
Coin Catalog 3-31-18 Lot # Description Lot # 1
COIN CATALOG 3-31-18 LOT # DESCRIPTION LOT # 1. 20 Barber Dimes 1892-1916 44. 1944S 50 Centavo Phillipine WWII Coinage GEM BU 2. 16 V-Nickels 1897-1912 45. 1956D Rosy Dime MS64 NGC 3. 8 Mercury Dimes 1941-1942S 46. 1893 Isabella Quarter CH BU Low Mintage 24,214 4. 16 Pcs. of Military Script 47. 1897 Barber Quarter CH BU 5. 1928A "Funny Back" $1 Silver Certificate 48. 10K Men's Gold Harley Davidson Ring W/Box 6. 1963B "Barr Note" $1 Bill W/Star 49. Roll of 1881-0 Morgan Dollars CH UNC 7. 40 Coins From Europe 50. 1954P,D,S Mint Sets in Capital Holder GEM 8. 4 Consecutively Numbered 2003A Green Seal $2 Bills 51. Roll of 1879 Morgan Dollars CH UNC 9. 1863 Indian Cent CH UNC 52. Colonial Rosa Americana Two Pence RARE 10. 1931D Lincoln Cent CH UNC KEY 53. 1911S Lincoln Cent VF20 PCGS 11. 1943 Jefferson Nickel MS65 Silver 54. 1919S " MS65 12. 1953 " PF66 Certified 55. 1934D " " 13. 1876S Trade Dollar CH UNC Rare High Grade 56. 1907 Indian Cent GEM PROOF 14. 1889S Morgan Dollar MS65 Redfield Collection KEY 57. 1903-0 Barber Dime XF45 Original 15. 1885S " CH BU KEY 58. 1917S Reverse Walking Liberty Half F15 16. 1880-0 " MS62 PCGS 59. 1926D Peace Dollar MS65+ 17. 1934D Peace Dollar MS62 NGC 60. 1987 Proof Set 18. 2 1923 Peace Dollar CH BU Choice 61. 1854 Seated Half AU+ 19. 1934 $100 FRN FR# 2152-A VF 62. 1893 Isabella Quarter MS63 Low Mintage 24,214 20.