The History of Currency, 1252 to 1896

A historical account written in the late 19th century. This work delves into the monetary systems of Europe and America over several centuries, exploring the evolution of gold and silver currencies and the implications of different monetary standards on economic growth and national prosperity. The opening of the book outlines the historical context of currency, marking the reintroduction of gold coinage in Europe beginning in the 13th century, particularly through the minting of the Florentine gold florin in 1252. Shaw emphasizes the significance of the Italian city-states and the effects of the Crusades on the development of trade and the necessity for a more efficient medium of exchange. He discusses the challenges and fluctuations in currency systems across various European nations, particularly in relation to the differences in the ratios of gold to silver, as well as the legislative attempts to address the complexities of currency value and circulation during this transformative period.