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The Great Recoinage of 1816 was an attempt by the British Government to re-stabilise the currency of Great Britain following economic difficulties precipitated by the French Revolutionary Wars and the Napoleonic Wars.〔A New history of the Royal Mint. Christopher Edgar Challis〕 ==Background== The French Revolutionary Wars (1792-1802) and the Napoleonic Wars (1803-1815) led to financial instability in Britain. This was due to direct military and economic warfare against France as well as Britain's financing of a series of coalitions opposed to the French Revolutionary and Napoleonic regimes. In exchange for large cash subsidies from Britain, nations such as Austria, Prussia and Russia, with armies larger than Britain's, were paid to fight against France. The economic conflicts of that era (such as Napoleon's Continental System and Britain's retaliatory measures against it) especially disrupted trade and the availability of markets in Europe for the products of Britain's growing mercantile and colonial empires. A shortage of silver and copper led to a shortage of coins. Paper money became legal in 1797〔Paper against gold, or, the mystery of the Bank of England. William Cobbett. 1846.〕 and local tokens were produced by companies and banks all over the country. Despite an increase in trade, the national debt had increased by 100% by the start of the 19th century. A series of bad harvests pushed up food prices and this culminated in riots in 1801–2. Corn prices halved at the end of the wars, when trade with Europe resumed. The Corn Laws of 1815 were intended to protect the price of domestic grain, but this only served to keep prices high and depressed the domestic market for manufactured goods, because people had to use all their money to buy food.〔Bright, J. and Thorold Rogers, J.E. (eds.) ()(1908) ''Speeches on Questions of Public Policy by Richard Cobden, M.P.'', Vol. 1, London: T. Fisher Unwin, republished as Cobden, R. (1995), London: Routledge/Thoemmes, ISBN 0-415-12742-4〕 Likewise, European countries which relied on exporting corn to Britain in order to buy British manufactured goods were no longer able to do so. The government needed to find a way to stabilise the currency, and the Great Recoinage was the first step in this process. The main aims were the reintroduction of a silver coinage and a change in the gold coinage from the guinea valued at 21 shillings to the slightly lighter sovereign worth 20 shillings.〔The British almanac. Society for the Diffusion of Useful Knowledge (Great Britain) 1856〕 The value of the shilling remained unchanged at twelve pence.〔The Coinage of Britain. Ken Elks〕 This massive recoinage programme by the Royal Mint created standard gold sovereigns and circulating crowns and half-crowns containing the now famous image of St. George & the Dragon by the Italian engraver Benedetto Pistrucci〔A New history of the Royal Mint. Christopher Edgar Challis〕 and eventually copper farthings in 1821. Pistrucci's initial portrait of the King has become known to collectors as the "bull-head George". He could not engrave it from life since King George III was insane. The design met such public hostility that it was withdrawn.〔A handbook of coins of the British Isles. Howard W. Bradley. 1978〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Great Recoinage of 1816」の詳細全文を読む スポンサード リンク
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