By A. B. McCullough
Of designated curiosity to coin and invoice creditors, in addition to heritage buffs and scholars, is that this transparent, concise and exciting rationalization of some of the cash and currencies utilized in Canada among 1600 and 1900. protecting the French, British, and Canadian sessions of our background, the wide variety of currencies used is defined: livres, kilos, cards, louis d’ors, eagles, shillings and cash between others.
Divided into geographical sections, every one quarter of Canada, from Newfoundland to the West, the ever-changing stipulations of cash and trade is roofed intimately. The concluding bankruptcy brings jointly every one of those threads and weaves a unified photo of the early Canadian financial approach. Aided via a beneficiant collection of illustrations, figures and tables, A.B. McCullough has written a entire consultant to our financial heritage that's either important and interesting.
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Extra resources for Money and Exchange in Canada to 1900
S. S. S. S.
On the other hand, when receipts of cards and notes exceeded the allotment of bills of exchange, the excess had to be redeemed with coins, cards or notes from the government's meagre supply. It was this second type of problem which led to the colonial government's unauthorized issue of 60,000 livres of card money in 1731. The issue of additional cards was quickly condemned by the home government, but it said nothing about the acquits. Their proliferation over the years suggests that the colonial government came to rely on them to cover its deficits.
12 In 1715, as a result of the failure to pay the bills of exchange due in March of 1715, the intendant was only able to retire cards to a value of 61,000 livres of bills of exchange due in March 1717. However, the French government was slowly getting its finances in order. By June 1716 it had been 39 able to pay off about three-quarters of the bills of exchange due in March 1715 and was confident of paying off those due in March 1716 during the course of the year. In spite of its efforts, the government had not made much of a dent in the total volume of card money in circulation.