Leipzig foot
Leipziger Fuß denotes a stipulation, originally made in 1687 by Kurbrandenburg, of a coin footer for silver coins ("12 thaler foot") to replace the Zinna coin footer .
prehistory
The minting of silver coins in a new mint base in Kurbrandenburg was initiated by Dodo (II.) Zu Innhausen and Knyphausen , who was in charge of the coin administration in Kurbrandenburg from September 24, 1684. Because of the spread of inferior coins, a change to the previous Zinna coin base was imperative. However, the previous contractual partner, Kursachsen, refused to change the monetary standard in 1686. After this rejection, Dodo II had two-thirds and thirds thalers minted single-handedly in Brandenburg from 1687 in the 12-thaler foot. The Elector Johann Georg III. of Saxony and the dukes of Braunschweig-Lüneburg wanted the Brandenburg Elector Friedrich III. move to return to the Zinna Treaty. In 1689 the Brandenburg two-thirds thaler was devalued and in Saxony it was even banned.
The merchants at the trade fairs in Leipzig and Braunschweig accepted the new Brandenburg two-thirds thaler as the best money at the moment. The onset of protest by the Leipzig merchants forced the Saxon electors to withdraw the ban in the same year. From October 1689, the two-thirds of the 12-thaler coin was also minted in Electoral Saxony.
After writing to the dukes of Braunschweig-Lüneburg, they too could be persuaded to accept the new standard. In this letter, Kurbrandenburg threatened to close its mints because the silver price had risen to at least 11 thaler 8 groschen for the fine mark and the flood of inferior money that set in and the further expansion of the hedge mints.
This forced agreement found its expression in the Leipzig coinage agreement concluded on January 16, 1690 between Kurbrandenburg, Kursachen and Braunschweig-Lüneburg.
Content of the contract
The main content of the contract was the further significant reduction in the silver content of the coins to be minted through the change from the 10½ thaler coin base according to the Zinna Treaty of August 27, 1667 to a 12 thaler coin base, the rapid issuance of the new coins and the withdrawal of all inferior types of coins.
The main aim was to reduce the silver content of the taler pieces newly introduced with the Treaty of Zinna. The value of the taler pieces in the following table always refers to the Reichsrechnungstaler at 24 groschen = 90 kreuzer.
| Nominal | Fine weight Zinna | Fine weight Leipzig | Value in Kurant | ||
|---|---|---|---|---|---|
| Two-thirds thaler | 14.848 g | 12.992 g | 1 guilder = | 16 groschen = | 60 cruisers |
| Third thaler | 7.424 g | 6.496 g | ½ guilder = | 8 groschen = | 30 cruisers |
| Sixth thaler | 3.712 g | 3.248 g | ¼ guilder = | 4 groschen = | 15 cruisers |
However, there were no binding regulations regarding the rough weight and fineness with which these coins were to be minted. They should only be an interim solution and not change the Reichsmünzfuß. There was agreement on the reduction of the fineness compared to the coins according to the Zinnaer foot. This was intended to increase the weight of the coins and thus give the coins a more attractive appearance.
With the new fine weight, 18 two-thirds thalers were made from a Cologne weight mark of fine silver . Accordingly, the Leipzig foot was not only called the 12 thaler foot but also the 18 guilder foot.
The main currency coin, the two-thirds thaler to 60 kreuzers, had the silver fine weight of half a Reichspeciestaler, but was never referred to as such, but always as two-thirds or gulden. It was an interim solution and not yet an intended change to the Reich coinage system.
Effects on the thaler
The Augsburg imperial mint dict of May 30, 1566 continued to apply to the minting of the Reichstaler. It was to be applied with 8 pieces on the rough mark, thus 29.232 g per thaler and fine 14 Loth 4 Grän (888.888 ‰). That's 9 pieces on the fine mark or 25.984 g silver per Reichstaler. As a pronounced old Reichstaler, it was called the Speziestaler and its face value increased with the Leipziger Münzfuß:
| Reichsfuß | 1571-1667 | 1 Reichszähleraler = | 24 groschen = | 90 cruisers |
| Zinnaischer foot | 1667-1690 | 1 1/6 imperial counter = | 28 groschen = | 105 cruisers |
| Leipzig foot | 1690-1757 | 1 1/3 imperial counters = | 32 groschen = | 120 cruisers |
The issue of the Reichspeciestaler and its importance as a trading coin had to decline further if at the same time taler pieces could be minted in a lower coin size. It was minted as an occasional coin and was barely minted or was also of low value. The Reichstaler still in circulation were mostly underweight due to wear and tear and circumcision. The Reichstaler and its half and quarter talers became the silver supplier for the minting into lower-value coins, an extraordinarily profitable business.
According to an order of April 26, 1690, it is said to have served as payment for the mining trades for the silver deliveries in Saxony. Special exploitation thalers did not exist in Electoral Saxony until 1756. According to this order, the payment to the mining trades for the silver mark rose by 1 guilder to 11 guilders 16 groschen 1 5/7 pfennigs.
| Coin footer | Fineness | Weight | Fine weight | ||
|---|---|---|---|---|---|
| Reichsfuß | 9 pieces adf mark | 14 Loth 4 Grän = | 888.889 ‰ | 29.232 g | 25.984 g |
| Zinnaischer foot | 10.5 pieces adf mark | 14 Loth 4 Grän = | 888.889 ‰ | 25.056 g | 22.272 g |
| Leipzig foot | 12 pieces adf mark | 12 Loth = | 750,000 ‰ | 25.984 g | 19.488 g |
But the whole Kuranttaler was hardly minted and was not a trading coin. It was not recognized as an imperial coin. In Electoral Saxony it was only issued as a commemorative coin.
Johann Georg III. Commemorative coin on his death
Kuranttaler 1691 in the Leipziger Münzfuß
Johann Georg IV. Schiessalerklippe 1693
worth a Kuranttaler in the Leipziger Münzfuß
Recognition of the Leipzig coin standard as the Reich coin standard
The coins minted according to the Leipzig footing spread very quickly. The princes involved in the Leipzig Treaty wanted recognition as an imperial coin footer. But there was considerable opposition.
November 28, 1692
Emperor Leopold was forced to enact a law according to which the importation of bad types of coins and the export of valuable types of coins were seriously prohibited. All types of coins of the respective minters not mentioned in the law were suspended on February 2, 1693 (Mariä Candlemas). With this law, the Reichstaler was set to a value of 2 guilders, i.e. H. Emperor Leopold recognized the Leipziger Münzfuß.
However, the Leipziger Münzfuß was not raised to the Reichsmünzfuß. The two-thirds, thirds and sixths thalers minted according to the Leipziger Münzfuß were not imperial coins. Emperor Leopold also assumed that half, quarter and eighth thalers were minted, the value of which had to be recognizable by a number in the coinage. According to the general coinage table from 1690 to 1750, however, the two-thirds thaler, the main currency coin of the Leipzig mint foot, had the same value as the half Reichspeciestaler:
| comparison | Half Reichspeciestaler | Two-thirds thaler |
|---|---|---|
| Pieces on the rough pith | 16 | 17th |
| salary | 14 Lot 4 Grän | 15 Lot 2 Grän |
| Pieces on the fine mark | 18th | 18th |
| Fine mark | 12 thalers | 12 thalers |
| Value of a piece | 16 groschen | 16 groschen |
May 30, 1695
For years, the Reichstag assembly could not agree whether the Reichsmünzfuß for the Reichstaler should be retained or changed in the direction of the Leipziger Fuß. Initiatives came only from the Reich circles. With the mint dict of May 30, 1695, Emperor Leopold supported the three corresponding circles (Franconian, Bavarian and Swabian circles) not to allow any changes to the form of the Reichspeciestaler. Any discrepancies in the value of the talers should be eliminated and a uniform silver fineness of 14 Loth 4 Grän with an external value of 2 Guilders should be ensured.
September 21, 1695
Emperor Leopold continued to hold on to the old imperial coin foot. He forbade the Lower Saxony district to coin Albertustaler, Bancotaler or other talers that differed from the old Reichsmünzfuß. On June 1, 1696, the three corresponding circles put these talers in disrepute on the coin trial day in Nuremberg.
1701 to 1721
The War of the Spanish Succession and the Northern War exacerbated the decline in coins. An agreement on a new imperial coinage during the war was out of the question. Emperor Joseph I did not succeed in stopping the increasing circulation of 15% to 25% lower-value coins and land coins.
March 27, 1721
On the coin trial day in Nuremberg, the three corresponding circles gave up their plan to reset the Reichstaler to a value of 90 kreuzers or 24 groschen for the first time. They were forced to do this by the rising silver price as a result of the pervasive lust for luxury in all strata of the population. They accepted the value of 120 kreuzers or 32 groschen and wanted to come to an understanding with the other circles. This change of heart moved Emperor Charles VI. to make the Reich coin issue the subject of the Regensburg Reichstag assembly again.
April 25, 1721
First of all, Emperor Karl VI. with patent dated April 25, 1721 the export of valuable coins and all other objects made of silver, etc. a. also silver dishes under threat of total expropriation and even the death penalty. However, it was not possible to stop the circulation of the low-value domestic and foreign coins.
June 20, 1726
In one of the imperial court chambers' concerns about coins issued on the orders of the emperor, there was the insight that the earlier emperors had given the coin shelf far too lightly to imperial counts, barons and private persons who had misused it. There should only be three to four mints in the imperial circles and all hedge coins should be removed. In a further report it was recommended to secure the Leipzig mint foot as the future imperial mint foot when struck. Proposals for the new uniform coin system were expected.
February 13, 1733
However, the fight against the hedge coins and the preparation of the new coin system were delayed. The complaints of imperial circles to the emperor about the lack of coins continued. Emperor Charles VI. had to remind the Reichstag assembly through a decree to work seriously on the new coin system. But since princes also operated hedge coins, no progress was made.
June 13, 1736
The emperor now took concrete action against individual princes. He admonished the Electors of Bavaria, the Palatinate and Archbishopric of Cologne, the Duke of Württemberg, the Landgrave of Hesse-Darmstadt, the Margraves of Ansbach, Bayreuth, Baden-Baden and Baden-Durlach, the Princes of Hohenstein and Waldeck, the abbot zu Fulda and the Counts of Montfort because of their inferior minting of coins and demanded that the coins be disapproved or denigrated. Otherwise, the emperor threatened lawsuits. The princes mentioned resisted this, because allegedly the increased silver price would not allow the coinage to be issued under the Imperial Coin Order.
December 3, 1736
At the Reichstag assembly there were discussions about a possible prohibition of the further issue and the degradation of the previous inferior coins, the future allocation of the coin rack and the enforcement of the penalties for hedge coins of the princes. The Imperial Assembly agreed to let the past rest so that an agreement can be reached. It was agreed to examine all gold and silver coins in circulation and to examine the Leipzig mint rate as a possible new imperial mint rate.
April 15, 1737
The Reichstag decided to draw up an expert opinion from the Münzwardeine of all imperial circles, which began the investigation in July 1737. They valued all coins in circulation in relation to the Leipziger Münzfuß (thaler valued at 2 guilders and ducats at 4 guilders). The fineness of all circulating Reichstaler should be checked. The Saxon Münzwardeine strove to mint all coins according to the Torgau standard. Franconia, Bavaria and Swabia, on the other hand, only wanted to use coins as state coins, because they had to buy silver and therefore wanted to set the currency standard accordingly.
February 1, 1738
So far, 511 gold and silver coins in circulation have been tested. A search for any missing coins is carried out with the involvement of the banks. The future monetary standard for the divisional coins was still disputed.
September 10, 1738
The Reich report prepared by 25 officials, each of whom received a salary of 5,000 guilders, was available. The Leipziger Münzfuß was recommended by the Münzwardeine for the coarse varieties. The foreign coins also had approximately this standard.
December 1, 1738
The imperial report is confirmed by an imperial commission decree. The Leipzig foot became the Reichsmünzfuß .
- The external value of the Reichstaler with 8 pieces from the rough Cologne Mark to 14 Loth 4 Grän, thus 9 pieces from the fine Mark, was set at two guilders. It was now 1⅓ thaler or 32 groschen (as previously the bill thaler was calculated at 24 groschen). After this foot, the following pieces should be minted as Kurant coins: half thaler, quarter thaler, eighth thaler and twelve thaler, Blaffert from the Lower Rhine and 9 Kreuzer coins.
- The external value of the ducats was set at four guilders, issued with 67 pieces on the rough mark, 23 carats 8 grän fine gold (= 2⅔ bill thaler or 2 bill thaler 16 groschen) Also applies to multiple or partial pieces of the ducats.
- The gold guilders received an external value of 3 guilders. For the expression of 72 pieces on the Raue Mark the following was stipulated: 18 carat 10 Grän fine gold, 3 carat 8 Grän silver and 1 carat 6 Grän copper. Also applies to multiple and half gold florins.
- The coin base for cutting coins is reserved for a further expert opinion. As national coins, they should only be minted to the extent that is absolutely necessary. Dividing coins are:
- Double groschen , 5 Kreuzer , Batzen , good simple Groschen , Kaisergroschen , 2½ Kreuzer, half Batzen, 6 Pfennig Kreuzer , 3 Pfennig, simple heavy and light pfennigs;
- For the Lower Rhine region: Blaffert , 4 ½ Kreuzer = half Blaffert, 2 ¼ Kreuzer, 1 ½ Kreuzer, Cölln Albus , quarter Blaffert, half Stüber , ¾ Kreuzer
- In addition, according to the will of the emperor, renegotiations should be clarified:
- The gold guilders should be clearly distinguished from the ducat by a symbol so that further fraud is prevented.
- The value of the taler should be indicated on the coins.
- The mentioned dividing coins mint only to a small extent until a quantity has been introduced.
The end on October 20, 1740
After the death of the emperor, there was the War of the Austrian Succession, the Silesian Wars and the war for the imperial title. The wars that lasted until 1745 ultimately led to the coinage system being completely dissolved. In particular, French money, low-value cruiser coins that could hardly be assigned to a country due to bad minting, came into circulation.
Since the price of silver also rose to 21 guilders, an 18 guilder footprint was out of the question. The Imperial Commission Decree of 1738 came too late. The numerous regional coin systems were retained.
Two new coin feet were developed: in 1750 the Graumann coin foot and in 1753 the convention foot .
See also
- Butterfly thalers - Description of the coins : Conversion of the nominal value of the Reichsmünzfußes into the nominal value of the Leipziger Münzfußes
- Saxon coin history # Minting in the Zinnaischen and Leipziger Münzfuß (1667–1690–1763)
Individual evidence
- ↑ Friedrich Freiherr von Schrötter , The coinage of Brandenburg during the validity of the monetary base of Zinna and Leipzig, Hohenzollern yearbook 11.1907, pp. 63–74, URL: http://nbn-resolving.de/urn:nbn:de:kobv:109- opus-1873
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon coin history, Chemnitz 1780, p. 685.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon coin history, Chemnitz 1780, pp. 152, 180 and 676
- ↑ Schnee, Gernot: Sächsische Taler 1500-1800, 1982, pp. 971,977 and 982
- ↑ Becher, Siegfried: Das Österreichische Münzwesen from 1524 to 1838, Volume 1, 1st Department, Vienna 1838, pp. 79f.
- ^ Becher, Siegfried: Das Österreichische Münzwesen from 1524 to 1838, Volume 1, Department, Vienna 1838, p. 8.
- ^ Stößel, Johann Christoph: An attempt at a Chur-Saxon coin history, Chemnitz 1780, p. 741.
- ↑ Stößel, Johann Christoph: Attempt at a Chur-Saxon coin history, Chemnitz 1780, p. 747.
- ^ Becher, Siegfried: Das Österreichische Münzwesen from 1524 to 1838, Volume 1, Department, Vienna 1838, p. 82.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Sächsische Münzgeschichte, Chemnitz 1780, p. 764ff.
- ^ Becher, Siegfried: Das Österreichische Münzwesen from 1524 to 1838, Volume 1, Department, Vienna 1838, p. 82.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon Coin History, Chemnitz 1780, p. 766ff.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon Coin History, Chemnitz 1780, p. 787f.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon Coin History, Chemnitz 1780, p. 789f.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon Coin History, Chemnitz 1780, p. 791f.
- ↑ Stößel, Johann Christoph: Attempt at a Chur-Saxon coin history, Chemnitz 1780, p. 792ff.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon Coin History, Chemnitz 1780, p. 799f.
- ↑ Stößel, Johann Christoph: Attempt at a Chur-Saxon coin history, Chemnitz 1780, p. 801f.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon coin history, Chemnitz 1780, p. 676, 802ff.
- ^ Stößel, Johann Christoph: Attempt at a Chur-Saxon Coin History, Chemnitz 1780, p. 820f.