Correct weight there, turtleoverhead. And interesting how history can link us to similar happenings elswhere in the world.
Here's more ...
Memorandum Regarding The Coinage Of The Early Cape From 1652
1602 - The United Dutch East India Company, Vereenigde Oost-Indische Compagnie, commonly known as the V.O.C, was founded in Holland with headquarters in Amsterdam where the council of Seventeen sat, a subsidiary Council acting at Batavia in Java.
Shares in the company were issued at 3,000 Guilden each, increasing in value by 380% in 1650, and by 570% in 1671.
This increase in capital value of the shares in the Company will help to explain the subsequent development at the Cape during the Company's regime.
When the Company was formed the silver "Real of Eight" or the "Reaal van Achten", originally issued by the Emperor Charles V in 1520, was the basic coin in circulation in the Low Countries, and at that period the equivalent English value of one Real was Five Shillings.
The V.O.C received from the Spanish Administration permission to strike similar Reals of Eight, but with different Arms and Inscriptions thereon for use in their Eastern trade, but not for issue in the Low Countries. These were minted at Middleburg and Dordrecht.
1622 - The Spanish Real was equivalent to 2 Guilden, and 8 Stivers or 48 Stivers equal to 4/- English.
1650 - William of Orange, later William III of England was born.
1652 - When Jan Van Riebeeck reached the Cape, the Spanish Real was the basic currency in use on board. In this year the V.O.C occupied the Cape as a victualling station for their East Indian fleet and for the sole benefit for the Company which had but one aim, i.e. to make the maximum monopoly profits for the share-holders.
1684 - The Gulden equalled 24 Stuivers or 24 Pennies English. Although Dutch currency was used at the Cape, the Rixdollar of 48 Stivers (Stuivers) become the recognised basic coin. As a unit in business transactions, the Cape Gulden or Guilden of 16 Stivers or 16 Pennies English was firmly established but did NOT exist as a coin.
1705 - The V.O.C established the Cape Rixdollar (rd) of 48 English Pennies for its own balance sheets, and those, inter alia, of the Orphan Chamber. The accounts were in Rixdollars of 8 Skillings or 48 Stivers. Thus for an example, 140 Stivers was equivalent to 2 Rixdollars, 7 Skillings and 2 Stivers was written as rds (Rixdollars). 2.7.2.
At the same time, the Spanish dollar or Real of Eight, and French or English Crowns were valued at 54 Stivers. German Reich Thalers or Russian Roubles equalled 48 Stivers, Dutch and Zeeland Rixdollars at 50 Stivers, and a Dutch Guilder at 24 Stivers.
In Holland a silver Ducatoon was equivalent to 63 Stivers or 72 at the Cape.
The increased value at the Cape is accounted for by the risk in transit, transport costs, handling charges, etc
1770 - The V.O.C valued the Cape Rixdollar at 4/- English and 2 4/10 Gulden Holland.
At the Cape the fictitious Cape Gulden equalled 16 Dutch Stivers and the same number of English Pence, while 3 Cape Gulden equalled 1 Rixdollar.
1781 - In consequence of the arrival of French troops, the standard of living was raised, with resulting increase in the cost of most articles - food, clothing and luxuries.
The Dutch Stuiver, one English Penny and ½ Cape Stiver were of the same value, while the fictitious Cape Gulden was the same as in 1770.
The following foreign coins were valued for exchange as follows:
Portuguese Johanna = 8 ½ Cape Rixdollars = 36/- English
So Called Gold Mooren = 7 Cape Rixdollars = 28/- English
Gold Rupee = 6 ½ Cape Rixdollars = 25/- English
Louis d'Or = 4 ¾ Cape Rixdollars = 19/- English
Quinji = 4 ¾ Cape Rixdollars = 19/- English
Peguinen = 2 ¼ Cape Rixdollars = 9/- English
Pagoden = 1 ¾ Cape Rixdollars = 7/- English
Persian or Moorish = 1 ½ Cape Rixdollars = 4/-
English Ductoon known in the Cape as Turquoison
and then...
PAPER CURRENCY STARTED PAYMENT OF THE TROOPS
1782 - A Florin or Two Shillings English was valued at 24 Dutch Stuivers or One-Half a Cape Rixdollar.
1784 - The following coins were received by the V.O.C from Holland:
Three Gulden pieces or 72 Stuivers or 12 Skillings
Daalden 36 Stuivers or 6 Skillings
The whole Gulden valued at 24 Stuivers or 4 Skillings
In consequence of the above, the V.O.C was enabled to exchange at the following rates:-
One Cape Dollar for 48 Stuivers
Six Skillings for 36 Stuivers
Four Skillings for 24 Stuivers
One Skilling for 6 Stuivers
1796 - First British Occupation.
1800 - Copper coins of one ounce weight (known locally as "dubbeltjies"), the large British Penny piece of 1797, were legal tender for Two Pence or Two Stuivers.
1803 - Cape returned to Holland
1803 - 1806 The Dutch Governor, De Mist, reported that the coins in circulation at the Cape were as follows: the Dollar, the Ducaton, the Driegulden, the Gulden, the Zesthalf (5 ½d) and the Double Stuiver.
At that date the Rixdollar and the Cape Gulden were used as commercial specie and not as coins, the Rixdollar being equivalent to 48 Stivers 2/3 Ductoon or Driegulden.
The Cape Gulden and 16 Stuivers wereof the same value. Three Cape Gulden and One Rixdollar were of the same value.
1806 - Second British Occupation of the Cape.
On the arrival of Sir David Baird, the same values were maintained save that the Doubloon of 16 Spanish Dollars is mentioned as equivalent to 160 Cape Skilling, or 960 Cape Stivers, corresponding to £4. 0. 0. Sterling, making One Cape Stiver equal to 1 Penny English, and 1 Cape Skilling equivalent to 6 Pence English.
The paper Rixdollar was assumed to be 4/- Sterling when at par but soon dropped to 1/6.
1810 - Paper Money:
1 Schilling = 2 ¼d
500 Rixdollars = about £40
1 Rixdollar = 1/6
The coin in general use was the Penny or Dubbeltjie, known to the Malays as "ou lap" equivalent in value to Two Pence.
1820 - The farm known as Fish Hoek is recorded in the archives as having been sold for "50,000 Cape Guilders or £1,250 English". This makes 40 Cape Guilders to the Pound Sterling or One Cape Guilder the equivalent of Six Pence English.
1825 - British silver money was adopted in this year and the paper Cape Rixdollar was valued at 1/6. Cape Gulder = 6d.
1826 - An order stated that the issue of British coins was tro be as follows:
Silver: 5/-, 2/6, 1/-, 6d
Copper: 1d, ½d, ¼d
Relative to paper money, the values were as follows:
1 Skilling = 2 ¼d
2 Skillings = 4 ½d
4 Skillings = 9d
1 Rixdollar = 1/6
2 Rixdollar = 3/-
500 Rixdollar = £37.10. 0.
1 Cape Gulden = 6d
40 Cape Gulden = £1. 0. 0.
The latter figure corresponds to the figures quoted in the records of the price paid for the farm Fish Hoek in 1820
1866 - A fine of Rixdollars 666.5.2 equalled £50 English, making the value of a Rixdollar as in 1825, i.e. 1/6.
1868 - One Rixdollar was valued at 2/6
1881 - Currency placed on a Gold basis
Many variations recur in the spelling of Shilling, Skilling, Schilling, Stuiver, Stiver etc. The spelling used under each date is that quoted in the context of the references.
Thanks to: Coinoissuer
Les.
Posted 12/05/2009 9:50 pm
