Money
Sources from old books
1638. The merchants mappe of commerce wherein by Lewes Robert.
Of the Monies and Coynes of sundry Countryes, used in generall in the traffique of Merchandize.
Amongst all the diversitie of Mettals which GOD the Creator hath shutup in the closet and concavitie of the earth, none is accounted more singular and excellent than silver and gold, of which the communication and Commerce of mankind, have framed and invented the use of money and coine, which money and coine, may be properly termed to be the universall measure of all things in the world, and though that thus naturally and originally they be but mettals, and so to be in themselves accounted, yet in value and estimation, the monyes and coines made thereof are to us (as all things) for they are to us, (converted once to this use) as meate, cloth, house, horse, and generally what other thing soever man hath els need of; and thereby it is evident and manifested that all things are obedient and in subjection to monyes; and that by this devise, a meane was found out and invented, whereby one thing should be to Merchants as all, and therefore men thrust forward by naturall inclination and worldly judgement, chose to this end and use at first, the thing that was found most durable, proper, and maniable, which they onely observed best to be mettall; and amongst all mettals gave silver & gold the preheminence in the invention of monyes, which of their owne nature was thus observed to be most durable, and incorruptible, and of which wee find as well in these our times as in times past, most Princes of the world to make their currant coines of, between man and man in trade of Merchandize. I denie not but in the innocency of those golden times of old, when neither silver nor gold was put to this use, there was yet a traffique found, and a Commerce practis'd amongst mankinde, which may be imagined did not then extend it selfe to buying and selling in that same nature, as now it is in use since the invention of Monyes, but onely to a trucking, exchanging, and bartering, and that onely for things necessary to back and belly, to feed and cloth, and so to preserve life; but these times worn out by a more acute age, and men laying to themselves a foundation of soveraigntie and greatnesse, the stronger still depriving the weaker, and riches thereby becoming desirable, this mysterie crept up, and was admitted, and therefore from these two mineralls was found out a bodie, which once authorized by power of the Magistrate, had a predominancie over all earthly things, and by which was squared out and leveld (as by an indifferent measure) all things appertaining to mankinde, the abundance thereof brought with it the abundance of honour, attendants, necessaries, and superfluities, so that he that had most in his possession, was accounted of, as being the most eminent and greatest personage in the eye, rule, and esteeme of the world.
But to come to the present times, though in the general throughout all Europe, it is now found that Coines and Monies, of silver and gold (as is afore observed) is onely in use, and that all Commerce and traffique is principally drawne and maintained thereby; yet is it noted in this Map, that all Nations have not yet submitted their judgement to the prerogative of these two mineralls, but retaine still in use some other things serving in their stead and place; for first in the Ilands of Porto Ricco, Saint Dominico, and in many places of America, they have in use small peeces of Lether, currant for Coines amongst them, not that they want silver and gold, for they injoy it in greatest abundance, but want the use and invention thereof; as of late dayes it is found to be established there by the Spanyard, as with us in Europe. Neither was this onely the custome of these parts alone; for it is observable, that in Peru, and elsewhere, where the greatest plentie of silver and gold was found out and digged, it was never put to this use by the Inhabitants themselves.
Diverse yet in this kind to this day is the custome of Coines and Monies that are used and goeth currant throughout the world; for beside the aforesaid use whereto these mettals have beene put, as to be thus imployed, the common Standard to rule all trade and commerce, and the estates as well of the Prince as subject in Europe and many other parts of the world: those Nations that have beene defective in this poynt, and that have not valued these mettals as the Europeans doe, have yet found out some particular thing or matter, whereto they have by a nationall and unanimous consent, (as it were) attributed this power to have a maine stroake in their negotiation and traffique, and wherein their wealth is found principally to consist.
In sundry parts of Africa, they use for their small coines a kinde of shells as currant amongst them, though their greatest payments be made either in sand of gold, which they terme Tiburin, or in Ingot. The same is the use this day also in the kingdome of Tombuto, and other adjoyning Countryes.
In other places of that Continent, they use Iron for their coine, their smallest peeces being an ounce waight; and this is seene practised in Massa, and other kingdomes also thereabouts.
In the kingdome of Congo is taken up along the Sea-shoare, great store of shell-fishes, differing from the former used in Tombuto, called Lumaches, which they distinguish male and female, the shell whereof is there accounted a coine, and wherewith they use to buy both silver and gold, but with silver or gold either in masse or coine, can they not buy any other thing needfull whatsoever.
In Melinda, they have little balles of glasse, in manner of our red beads, which come to them from Cambaia, and other places, and these are their coines and monies; and with them gold is neither found to be of account nor esteeme.
In some places of Cathaie, their money is a kind of paper stamped, and in some other Salt baked into small cakes, for the excellent use and scarcitie thereof, passeth currant as coines amongst them.
In Pegu their money is called Ganza, and is made of copper and leade, which every man may at his pleasure both coine and siampe that is able; for gold and silver is accounted as a Merchandize amongst them.
In Bengala their small money is a fruit resembling the Almond, which passeth currant from man to man in traffique. And in the Iland Sumatra, it hath been observed, that the sculls of their slaine enemies was accounted their greatest treasure, with which they buy and barter; and he is the richest man that hath the greatest number thereof in his house. And lastly, in many places of India they use pepper and Cocos nuts in liew of money; and the same passeth currant for coine in many places of India: and to conclude, it may be observed throughout this MAP of COMMERCE, that though silver and gold is not the mettall generally in use for the coining and stamping of money throughout all the world; yet these other things specified, cary with them in matter of commerce in these places the like efficacie and power.
To proceed then, Budelius, Varro and sundry Authors writing upon the originall of moneys, and upon the excellencie of this predominant pointe of traffique; affirme that all coines in the generall have been nominated by their severall and distinct names. 1. Moneta, 2. Nummus, 3. Pecunia; the reasons given thereof are these: First, Moneta is said to have taken that name, and is derived a Monendo, which is to admonish and warne the people of the name of the prince, vel Nummi nota, and of such a signe or marke impressed thereupon, thereby alluding to the saying of CHRIST, Matthew 22. Where the Pharises brought him a penny, he thereupon demanding whose image and superscription that was? and they answered Caesars; then said he unto them, give therefore to Caesar the things that are Caesars, and unto GOD the things that are GODS.
Secondly, Nummus is said to take its name as some will have it à Numerando vel Nomine, of the name of the Prince stamped upon it, as a Duccat is said from Ducatus, or as some say from Numa Pompilius the Romane King, who is said to be the first that 1900. yeares past, commanded moneys to be made, whereof ever since after his name every piece of money is called Nummus; or againe, as some hold, it is derived from Nomos, which signifieth a Law, and implyeth as much as such a Prince, or such a common wealth hath ordained money, from whom it hath taken a certaine price and valew.
Thirdly, Pecunia is derived à Pecude. of cattle, sheep, and Oxen; wherein was said to consist the wealth of the ancients, and whereon the figure thereof was stamped; and is construed to be all manner of living Creatures, wanting the forme of Man: and some hold that the name of money signifieth, not onely money numbred or told, but also all things that are contained in the World; aswell moveable as immoveable, liquid as solid; and in generall all things whatsoever men have upon the earth.
From these three names and kinds grew first amongst the Romanes a particular distinction, and nomination of the quality of the species, as they were currant in worth and esteeme amongst them: for they had then in use certaine moneys of copper, aswell as the others of silver and gold: and because every piece of the silver was in valew ten pieces of the copper, it was called Denarius; and because every piece of gold was worth 10. pieces of silver, the same was also called Denarius; and thus for distinction sake, other Nations in their coines in after ages followed their example; and our English moneys came to have the apellation of starling, and to be distinguished into pounds, shillings and pence, as some say from the esterlins that were in times past the masters of our minte, and the refiners of our coines, which yet holdeth this name, and by which the same is knowne throughout all Europe. But to conclude this Chapter, however coines and moneys came at first to have their originall and names, and however the same came to be distinguished, and of what mettall soever the same is in these dayes found to be made of and framed; yet when once the same is allowed by the publike authority of the Prince and Soveraigne Magistrate, it is held a capitall crime in all Countries, either todeface, mend, alter, or any waies to debase the same; and therefore most justly (the circumstances considered) doe the coines of Princes currant in all their Countries challenge a principall part and interest in the Universall commerce of the World.
Tunis
Their coines used in trade is here commonly most currant the Spanish both silver and gold; the Riall of ½ Spanish is accounted 46 aspers, the ℞. of 4/4 23 aspers, the ¼ 11½, and the Pistolet of Spaine commonly by them termed the scudo, is 64 aspers, but these rise and fall according to the plentie and scarsitie thereof: silver coines of their owne I have not observed any stamped amongst them, save the asper spoken of before, eighty whereof makes a sultany, chicquin, or hangar duccat, which is the common peece of gold knowne passable through all Africa & Asia, and through all the Dominions of the Grand Signeor: and these coines passe thus currant in Tripolis, Barbaria, in Africa, Vna, Biserta, and other maritime parts alongst the coast.
Algiers
Their coines passing currant here in trade is the Double, which is accounted to hold correspondencie in value with the English shilling, or rather two Spanish Rialls single.
Foure doubles is 1 ℞ 〈◊〉, called there an Osian.
Five doubles and 35 aspers is a pistolet of Spaine.
Seaven doubles is accounted a sultany or Chequin, the common peece of gold found currant in all Barbarie.
Fiftie aspers is accounted to make a double; and these are the usuall coines passable in all this coast belonging to this Kingdome.
Oran
The coines currant of Barbary, and which passe currently here, are those indifferently named before, and the coines of the opposite shoares of Spaine.
Una
The coines before mentioned are here current, onely with little alteration, as also the same is found to be in Bona (anciently Hippona the seat of Saint Augustin that learned Father) in Cola, Tabara•…ha, Bugia, Constantine, and other townes of trade upon this coast, therefore I will omit the repetition thereof, having all a reference in trade one to the other.
Morocco and Fesse
The moneys of this Kingdome, and generally of all the Kingdome of Moroco is the Sheriffe or Duccat in gold deriving the name thereof from the Sheriffs, who within these few yeares made conquest of these Kingdomes under pretext and colour of the sanctity of their Religion, and is accounted to be about ten sh. starling money, divided into 8. parts, and esteemed ⅛ each part, which may be compared to be about 14. d. in 15. d. starling. ... The coines currant is also the Sherif common with Fesse, and all these parts of Barbarie, and by some called the duccat of gold, having eight divisions or parts, esteemed to be about nine shillings and foure pence sterling, each 〈◊〉 worth fourteene pence sterling.
Negroland
Asseva is two pesos and a halfe.
Egebba is two pesos, and accounted halfe an ounce or the fourth part of a Benda.
Seron is accounted for one peso and a halfe.
Eusanno is accounted a peso.
Quienta is three quarters of a peso.
Each Peso is held a loote.
Media taba is a quarter of a peso.
Agiraque is halfe a peso, so that by those that have made the triall of their weights with ours, they have found them to be in every pound Troy a peso and halfe in every pound hevier then our Troy pound used in England, and this weight is the rule for their gold in passing for commodities: where note that all Countries have not in this and other these large coast moneys currant of mettle as wee have in Christendome, for in some parts of Ethiopia their money is pepper, in Tombotu, and about the river Niger their money is cockles or shell-fish, in Azanah their money is porcellette, in Bengala porceletta and mettle together, as in China they use porcolette for money, and in some other places of India, paper stamped with the Kings seale passeth currant for money, and in some places the barkes of certaine trees called Gelsamora, and in Congo and many places of these Countries Lumach, and in Angela, beads of glasse, and such like in many other places.
Sidon
Their coynes are principally Rialls of 〈◊〉 Spanish and Chicquins in gold, the Riall accounted for 72 aspers, and the chickquine 108 aspers, but the valuation alters according to the occasions of the state and course of traffique, therefore no great confidence can be given thereunto.
Aleppo
The Coines currant of Aleppo is the same common with all the dominions of the great Turke; the passable here is
The Soltanie is medines 80, aspers 120, sh. 16.
The Lion doller, med. 50, asp. 80, sh. 10.
The Duccat, med. 40, asp. 60, sh. 7½.
Rialls of 8/8 have passed 6½ per cent. better then lyon dollers, and 1½ ℞. 8/8 hath passed for a soltanie: but this rule holds not in these dayes, for the warres and troubles of that Country have altered these observations.
Shes. 1 is medin. 5⅓, or aspers 8, and the med. 1 〈◊〉 shes.
But these rules following are more certaine and found true.
℞. 8/8 is found to weigh 424 grains the single Rot. 26½ gr.
The Crowne or single pistolet found to weigh 53 grains.
The Solianie, hungar, or chequine to weigh 54 graines.
And the Mitigall is found to weigh 72 graines.
Their accounts are kept as by a common consent throughout the principall places of traffique in Turkey in dollors and aspers; the dollor containing 80 as. at what rate otherwise soever the same doe passe amongst all Christians that are Merchants, and here resident; yet it is found that the account of the Countrey (as proper to the revenewes and treasure of the grand signior, and practised by the receivers of his estate) is kept in aspers, wherein they account to thousands, ten thousand and hundred thousand aspers, and so by a cargo or loade of aspers which they account to be 100 thousand aspers, and at 80 aspers per dol. amount to 1250 dollers, o•… 312 li. 10 shil. starling.
Mocha
It is subject to the grand Signior, and acknowledgeth his coines •…r the currant in this place in matter of trade, which is the asper common with all Turkey.
Whereof 60 is here accompted for a Riall of 〈◊〉 Spanish.
An hundred is accompted for a Soltanie, chiquine or sheriffe.
The common gold here currant 8 sh. sterling.
Ormus, Persia
The Coines then here in use and valuation are these:
- 1 Besse of copper is 4 Cosbeggs.
- 1 Shahee of silver is 2½ Bessees, which is 4d starling or 10 cosbegs.
- 1 Mamothy silver is 2 shahees which is 8d star. or 29 cosbegs.
- 1 Abashae of silver is 2 mamothies, which is 16 d star. or 40 cosb.
- 1 Asar of gold is 20 shahees or 6 shil. 8d. starling.
- 1 Toman of gold is 10 asars, which is 66 shil. 8d. star. and this Toman is accounted 50 abashes or 2000 cosbeggs.
These are the generall coines currant throughout Persia; to these I must adde those in use in these parts above mentioned: The Riall of 〈◊〉 Spanish is here a commoditie, and bought and sold, and the common estimation thereof is here 130½ cosbegs or 13 shahees, and somewhat more, which accounted at 4d. per shahee is little more than 4 shil. 4d. starling. Againe, this Riall of eight passeth here for 5¼ larrees, which larrees are 10d. star. and by this account the Riall of 〈◊〉 is 4 shil. 4½d. starling.
1 Larree is 5½ saddees, each saddee being not fully 2d. star. and each saddee accounted here for 40 flosses; so that the larree is here 220 flosses, and every ℞. of 〈◊〉 is here at Gombrone and Iasques 1155 flosses.
Hispahan, Persia
Their coines currant in Hispahan, and generally throughout all the Kingdome of the Sophie are of severall sorts, partly of brasse, partly of silver and partly of gold. The principall whereof is the Toman, which formerly hath beene accounted to be worth 6 li. starling, since 4 li. and by reason of the late warres imbased, and worth now onely 3 li. 6 s8. 8 d. at Sea side starling, and by some accounted 3 li. 12. sh. 6 d.
This Toman is worth 200 Saheds or Shahees, 14½ or 15 ℞. 8/8 span. or 10 asures, which have beene accounted 4 li. star. a piece, a Mamothy of silver, is 2½ Bestees of copper.
The Riall of 〈◊〉 span. is here accounted for 13 Shahees, and 1 cosbeg or 5¼ lorins.
The lion dollor currant in these parts is 10 Shahees, every Shahee is 4 d. starling, or 50 deniers here in account.
A Rupias, which is the coine of the Mogull is abashees, 4¼ which is 2 sh. 3 d. starling.
A Mamothy is 9 cosbegges or 32 dores, or 100 deniers.
A Bestee of copper is 4 cosbegges, or 20 deniers.
An Abaisce silver is 2 Mamothies, or 20 shahees, or 200 deniers.
A Chickeene of gold, sheriffe or solton is 18½ shahees, yet in some places of Persia they passe for 20 shahees, and in some for 24 sha.
An asure of gold is 20 shahees, and 10 asures is a Tomano 3-6-8 d. st.
A Larin is 5½ shahees, and in some places onely 5 about 10 d. or 10½d. starling, here 25 cosbeggs.
A Fonan is 9 Cupans. A mitigall is 3•…½ or 34 shahees.
A sadee is 40 flosses. A shahee is 10 cosbeggs.
A mitigall is 33½, and in some places 34 shahees.
A Tanger is 12 pulls, which is shahees.
They here keepe their accounts in sundry species and denominations, some in Sheriffes, some in Spanish Rialls, and some in tomans, and some in Shahees: The common account is thus distinguished.
The Abashee is 200 deniers, or 20 shahees. The Mamothy is 100 deniers, or 10 shahees. The Sadon 50 deniers, or 5 shahees: The Uiste is 20 deniers, or 2 shahees. The Cosbegge is 5 deniers. And those that keep their account in shahees, onely they reckon them to hundred thousands, and hundred thousands, as the proper knowne coine of the Countrey; and this manner hath seemed the best to our English there resident, which they account 60 shahees for 20 sh. starling.
Caffa
They have also a coine which is called a Somma, in which their accounts are kept, and to which other coines currant are reduced; and the same is divided to saggis, which they account by 45 saggis to a somma, and 4 sommes to a soltany or checquin; and thus much shall serve for the trade of Caffa.
Cambalu, Cathay
As for the moneys currant in this large Territorie, I find it to be diversly made, yet neither of gold nor of silver coined, but of the middle barke of the Mulbery-tree, which being made firme, and cut into divers and round pieces great and little, they imprint the Kings marke thereupon, and from this meane stuffe, the Emperour causeth a huge masse of moneys to bee yearely made at Cambalu, which sufficeth for his whole Empire, and no man under paine of death may coine or spend any other money, or refuse it in all his Kingdomes and Dominions; whereby it commeth to passe, that Merchants often comming hither from farre and remote Countries, bring with them gold, silver, pearle, and precious stones, and receive the Kings money for them; and because the same is not currant in their Countrey, they therewith buy in this Empire other the commodities heere found, which they carry hence away with them: the King also payeth his stipends, officers and armies with the said moneys, and buyeth whatsoever else hee needeth with the same, so that no Prince in the world can exceed him in treasure, which is at so easie a rate provided and procured. Besides which, I find it observed in some parts of this large Countrey subject to some subordinate Kings, in subjection to the Great Cham, that they use in some places pieces of polisht corrall instead of money; and in others they have certaine twiggs of gold, in lieu of money, which is distinguished by weight into severall parcels, without stamp or Character, and this is accompted in matters of consequence: but they have a lesser coine (if I may so terme it) made of salt which they boile in coldrons for a certaine time, which congealed they make into lumps, like our penny loaves, which being made solid, is signed with the Princes stamp, and passeth thus currant amongst them, & wherewith they provide themselves of all necessaries: in some others I find also that they use purs•…ane for money, and weighted pieces of gold; for in some Countries of this Empire silver mines are not found, and they give in proportion one ounce of gold for five ounces of silver; neither is it found that in many places of this Countrey that they have the use of letters; therefore the Merchants make their contracts and obligations in tallies of wood, the halfe whereof the one keepeth, and the other the other halfe, which being afterwards paid and satisfied, the said tallie is restored; not much unlike the custome of tallies in England.
Cambaia, India, The Empire of the Mogul
The ancient currant and generall coyne of this Countrey is the Mahmudy, stamped by that famous King Mahmood in the first conquest of these Countries, which was accounted for (—) Res of Portugall, and by the English there resident estimated 12 d. starling. But the Grand Mogull being the last Conquerour, prohibited the said coines of Mahumdis, and therefore at this day they are found very scarse, yet most frequent in Gussurat. The most currant coine now throughout his Territories being the Ruppie, of which there are divers sorts, which are,
The Casanna Ruppia which is the common Ruppia worth in India ¼ mahomudy, and estimated incirca 2 s. 3d starling.
The Iacquerree Ruppie, 5 of which make 6 Casanna Ruppies.
The soway Ruppie—4 whereof makes 5 Casanna Ruppies.
The Hondee Ruppie of equall value with the Casanna Ruppie abovesaid; and in these last doe the Merchants of Gusurat keepe their accounts: Besides which they have for smaller coines currant these:
The Pice, accounting 34 to the mamodie, which is 10 d. starling.
The shahee accounted to be 10 Pices or 10 Cosbeggs.
And some there are that keepe their accounts in Mahomodis, accounting 2½ mahomdy to be one Hondee or Cassanna Ruppie, being thus esteemed for 2 shil. 6 d. star. as 2 Ruppies are accounted for 1 ℞ 〈◊〉 Spanish, though indeed not found alwayes of that value, for the Ruppie is here observed with the right of a Princes coine, and the R. 〈◊〉 for a merchandise or commoditie, rising and falling: the said Ruppia in Agra is found to passe for 84 pices; but this is thus most currant in Amadever, Lahore, and other the places where the Christians of Europe and others doe provide & buy their Indico, &c. and there two of the said Ruppias make in ordinary payment for Merchandise 1 ℞ 〈◊〉 of Spanish.
The common moneys heere currant is called the Pardaus Xeraphin, coined here, and worth 300 Res of Portugall, and is as much as three testons, which is English money about foure shillings sixe pence sterling.
One Pardau is five tang as, which is an imaginary coine, and is in both sorts of the coines in use, as accounting five tang as bad money, being the same in worth as foure tang as of good money.
One tang as is worth foure good ventins, and five bad ventins, a coine also imaginary, and not reall, and is worth seaventy five basarucos.
A vintin is worth 15 bad basarucos, and 18 good basarucos, which is the lowest and smallest coine heere in use.
Three basarucos is worth two Res of Portugall money, and by this accompt, the Pardu sheraphin is worth 375 basarucos: and these are all the proper coines of Goa: the other here currant are
The Persia larins is a coine of very fine filver, and worth 110 basarucos.
The Pagode of gold worth about 10 tang as, is eight shillings sterling.
The venetiander of gold, worth two pardaus sheraphin.
The St. Thomas of gold, worth 8 tang as.
The Riall of 〈◊〉 called Pardaus de reales, worth commonly 440 Res of Portugall; but these and the larins of Persia may heere bee accounted for commodities, rising and falling in price, as the occasions of Merchants inforce them.
But note that all moneys are here paid and received by the hands of Sheraffs, as is the manner in Turkey and other Easterne Countries, who make good the losse and dammage either in tale or goodnes for a small consideration, and by the Portugals termed Cernidors.