A History of Currency in the British Colonies Microform
A History of Currency in the British Colonies Microform
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In 1879, as the result of the depreciation of the gold price of silver in the previous years, the silver dollar began to give trouble on the West Coast of Africa, as in the West Indies. The legal currency of the dollar in Sierra Leone at 4 s. 2 d. Sterling, when it w r as barely worth 3 s. 8 d. , naturally induced merchants and speculators to import the coin, and early in 1880 steps were necessary to prevent the Colony from passing to a silver standard and measure of value. At this date it was ...stated (1) that English coin was rarely seen, and (2) that, almost the whole of the coins in circulation consisted of 5-franc pieces or dollars, the latter coin being poured into the Colony by every steamer that arrived. By Ordinance No. 2 of 1880 it was enacted that the dollar should cease to be a legal tender in the Settlement, but that for three days (subsequently increased by Government Notice to 13) the Colonial Government should receive the de- monetised coin at its old rating of 4 s. 2 d.
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To quickly assess the difficulty of the text, read a short excerpt:
In 1879, as the result of the depreciation of the gold price of silver in the previous years, the silver dollar began to give trouble on the West Coast of Africa, as in the West Indies. The legal currency of the dollar in Sierra Leone at 4 s. 2 d. Sterling, when it w r as barely worth 3 s. 8 d. , naturally induced merchants and speculators to import the coin, and early in 1880 steps were necessary to prevent the Colony from passing to a silver standard and measure of value. At this date it was ...stated (1) that English coin was rarely seen, and (2) that, almost the whole of the coins in circulation consisted of 5-franc pieces or dollars, the latter coin being poured into the Colony by every steamer that arrived. By Ordinance No. 2 of 1880 it was enacted that the dollar should cease to be a legal tender in the Settlement, but that for three days (subsequently increased by Government Notice to 13) the Colonial Government should receive the de- monetised coin at its old rating of 4 s. 2 d.
What to read after A History of Currency in the British Colonies Microform?
You can find similar books in the "Read Also" column, or choose other free books by Chalmers Roberts to read onlineMoreLess
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