Notwithstanding this the expenses continued to augment, and the government had recourse to the reprehensible measure of altering the money standard, and the whole monetary system was soon thrown into the greatest confusion.
The accession of Alexander brought about a change in the monetary system of the kingdom.
The double-standard Latin union monetary system was founded by a convention of 1865, between Belgium, France, Italy and Switzerland.
It advocates unity of the monetary system throughout the entire state, with strict integrity in the quality of the coin, and the charge of a seigniorage sufficient to cover the expenses of mintage.
Systematic debasement of the coinage was practised both in India, where the monetary system was extremely complex, 2 and in Portugal; and owing to the bullionist policy adopted by Portuguese financiers little permanent benefit accrued to the mother country from its immense trade.
The following table affords comparisons in the revenue and expenditure: - The monetary system is similar to that of Holland (the unit being the guilder), but there are also certain silver and copper coins of small value bearing Malay or Javanese inscriptions.
In the succeeding session his service was marked by a report, from which resulted the present monetary system of the United States (the fundamental idea of its decimal basis being due, however, to Gouverneur Morris); and by the honour of reporting the first definitely formulated plan for the government of the western territories,' that embodied in the ordinance of 1784.
Currency.Tbe monetary system in force dates from 1885, when through the efforts of Sir Edgar Vincent the currency was placed on a sound basis.
The coinage began before the Roman conquest was completed; the monetary system resembles that of the Roman republic, with values analogous to denarii and quinarii.
In Northumbria a totally different monetary system prevailed, the unit being the terms, which contained three sceattas or pence.