Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1826-06-22

i
e., standard of value; silUer coins cannot be tend
ered in navmeut for sums above forty shlllings;
mr. conner coins, for sums exceeding one shiii-
ing. ,,c ,;,e.c
| The current coins are guineas, hall guineas'
and nieces of seven shillings, or one thlrd Vi d
Guinea But these coins have been gradually
superseded, since the year 1915, by new COIN
ape of double sovereigns of the value oil ior'y
| shillinps, sovereigns Of twenty sbillings, ana
half soyereigns Of ten shilings sterling.
The British silver coins, consist oil crowns
of the value of five shillings, and OF suhdivls-
ions as low as sixpence In Ireland, there are
silver pieces of ten pence and five pence. value.
The copper coins, are from TWO penny pieces 70
| farthing. I'm
The Bankers of England, Scotland and Ire
land, both public and private, never ISSUE
| notes below one pound sterling:--and "na' l"
this country are called accommodation notes. are
never discounted, and are unknown
| The stock and property OF Bankers, wh'cn
;s mt employed in discounting foreign or inland
bills ofexchange, is invested in government Sc
curities, India Stock, or bonds, mortgages,
mines or manufacturing es' Adjustments:
France is the chief rival of Great Britain, IN
arts. civilization, commerce, civil polity, and
rberal institutions. The national bank oil France
is the only one which issues circulating notes,
which are never below fve hundred francs, or
about ninety four dollars in money 81 the C"Hed
States. -,
There are no banks nor bankers which issue
circulating notes, in either Spain, Portugal ltas
" Turkey, Egypt, or any Of the countries aa-
;oining the AIriatio, Euxine, or Mediterranean
seas. or except Russian notes, in any part OF "A
STA.
The old bank Of Amsterdam, which was,t
!, lonp time. considered the richest in Europe,
and which was the centre Of pecuniary neso-
c;,,ions. both for Europe and the United States,
,ras merely bank of deposit, for the payment q
h.n. cf erchange- After the invasion oil Holland,
in the year 1894, it languished for some time,
and at length relnquished its functions Its
place is partially supplied by the bank OF the
Netherlands, with a capital of ten millions OF
forms. or four millions Of dollars. The ope-
rations Of this bank are limited, and it issues no
circulating notes below twenty guilders, or the
value Of eight dollars.
The currency Of Austria, during the late wars,
consisted of paper notes, which were issued by
the old Bank of Vienna. They became greatly
deprecated, and national bank was establish
ed in the year 1916. This bank now issues a
paper which is called convention money, which
is PAYABLE in specie. Its funds are derived
from the revenues and eXactions OF the govern
ment The notes of the new bank, are at pre-
sent current without depreciation, and its ex-
changes are at the rate of two and one halt OF
the pa per Of the old bank of Vienna, for one OF
the new or convention paper currency.
The currency of Russia consists, almost ex-
clusively, of notes issued from bank establish
ed by the government, and it supplies circu-
latnp medium for the whole empire. II is sup !
ported by resources derived from national re-
venues. The denomination of notes is fOe rou |
bes ofaccount, which are equal to an American
dollar.
The public revenue is payable in the Siiver
roubie, and the notes of the Bank are now re-
ceived by the government, at three roubies and
six tenths in paper, for one rouble In silver
This rate somewhat exceeds that at which the
paper is current in private transactions.
The currency Of Swedenis composed OF notes
issued from the government bank at Stock
holm The notes are Of several denominations,
ard some Of them are as small as six Seedlings,
which are equal to about four Americ an cents
Gold and silver coins are almost wholly excIu-
ded from circulation in this country.
The currency Of Denmark is supplied by the
government, bank at Copenhagen It's notes
were al one time as low as one sixteenth al |
dollar, and were nearly discredited. AT pre-
sent no notes are issued below one dollar, and
these are, at present, valued at about A cents
Gold and silver coins do rot appear in circula-
ton.
But notwithstanding these degrading curren-
ces, to which even despo,ism is unable TO i'm
part any staple value, metallic. money may be
commanded in every part Of Europe. 1t is
more abundant in France than in any other
country, owing to the excellence OF its manu-
factories, the variety of its useful arts, and the
absence of any paper medium. The silver
coins Of France are chiefly pieces of FIVE francs,
which are by law current in the United States,
at ninety-three cents and three mills These
pieces are divided into pieces Of two francs,
one franc, and half franc.
The gold coins are Louis or Napoleons OF
twenty francs, and double Louis or Napoleons
OF forty francs. British and other foreign gold
coins, are also frequent.
Excepting the partial monopoly OF the Bank
of England, the trade of banker is not, IN any
part of Europe, subject to restrictions oy law,
which are not common 10 other mercantile
transactions. Bankers are to be found IN any