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278 HISTORY OF MARYLAND.
On the accession of William and Mary, in 1688, the government of Maryland was seized by the crown, and the privilege of working a mint was cut off
from Lord Baltimore's accustomed rights. Under the royal prerogative* the
rates for foreign coins, which had been established under proprietary rule,
were continued. An Act of 1692 settled the rates of these coins just as they
were established by the Act of 1686, but an Act of 1694 repealed the Act of
1692, and left the people to practise exchanges according to interest or fancy.
This state of things continued until about the year 1708, when the legislature
of the, colony affixed provincial values to a number of foreign coins that had
been introduced into the different plantations. Among these coins was the
" cross dollar," of Flanders; the " lion dollar," of Holland, called the " Dutch
dollar," and the "dog dollar," of which the Act of 1708 says there was "little
other money in the province," and " the inhabitants are not so well acquainted
with other foreign coins."
About this time there appears to have been much counterfeiting of
foreign coins; and the Act of 1708 makes this offence penal, as well as the
custom of clipping coins, which caused an act to be passed in 1729, providing
that gold and silver coins should pass by weight. The mischief of clipping.
wTas, therefore, by this act prevented. The practice of clipping was chiefly
confined to the Spanish dollar and half dollar cut into four pieces through
the centre of the coin to make change, and these pieces were called sharp-
shins, or sharp-change, on account of the sharp angle made by cutting.
By an Act of Assembly passed in 1763, where payments were made in
tobacco, the following species of gold and silver coin, if tendered, were to be
accepted at the following rates:
Johannes at 920 1b. tob. - Other gold coin (German )
Half ditto 460 " " - excepted) by the dwt. [50 lb- tob-
Moidore 348 '" " - French silver crowns, 60 " "
English Guinea, 272 " " - Spanish milled,) fift u <t
:}
French ditto, 268 " " - Pieces of Eight
Spanish Pistoles, not. ) ._ u l( Other good coined Span-} „ ti u
lighter than 4 dwt, 6 gr.) " ish silver per ounce, j
French milled Pistoles, 212 " " -
Arabian Chequins, 108 " "
After the revolution, the Act of 1781 declared " what foreign gold and
silver coin shall be deemed the current money of the State;" and with the law
is published a table of coins in circulation in the province, and whose respective values are fixed. This foreign currency continued to be legalized by
successive acts until the year 1812, when an act was passed recognizing the
coins struck by the United States, and the values assigned to foreign ones by
Congress.
Mr. Crosby says, in 1783, a goldsmith of Annapolis, Maryland, issued
silver tokens as a speculative venture of his own. They consisted of shillings,,
sixpences and threepences, and are all now very rare, the two smaller pieces
especially so. The shilling, first to be described, is supposed to be unique.
| Title | History of Maryland - 1 |
| Creator | Scharf, J. Thomas (John Thomas) |
| Publisher | J. B. Piet |
| Place of Publication | Baltimore |
| Date | 1879 |
| Language | eng |
| Type | Books/Pamphlets |
| Title | 00000305 |
| Type | Books/Pamphlets |
| Transcript |
278 HISTORY OF MARYLAND.
On the accession of William and Mary, in 1688, the government of Maryland was seized by the crown, and the privilege of working a mint was cut off
from Lord Baltimore's accustomed rights. Under the royal prerogative* the
rates for foreign coins, which had been established under proprietary rule,
were continued. An Act of 1692 settled the rates of these coins just as they
were established by the Act of 1686, but an Act of 1694 repealed the Act of
1692, and left the people to practise exchanges according to interest or fancy.
This state of things continued until about the year 1708, when the legislature
of the, colony affixed provincial values to a number of foreign coins that had
been introduced into the different plantations. Among these coins was the
" cross dollar," of Flanders; the " lion dollar," of Holland, called the " Dutch
dollar," and the "dog dollar," of which the Act of 1708 says there was "little
other money in the province," and " the inhabitants are not so well acquainted
with other foreign coins."
About this time there appears to have been much counterfeiting of
foreign coins; and the Act of 1708 makes this offence penal, as well as the
custom of clipping coins, which caused an act to be passed in 1729, providing
that gold and silver coins should pass by weight. The mischief of clipping.
wTas, therefore, by this act prevented. The practice of clipping was chiefly
confined to the Spanish dollar and half dollar cut into four pieces through
the centre of the coin to make change, and these pieces were called sharp-
shins, or sharp-change, on account of the sharp angle made by cutting.
By an Act of Assembly passed in 1763, where payments were made in
tobacco, the following species of gold and silver coin, if tendered, were to be
accepted at the following rates:
Johannes at 920 1b. tob. - Other gold coin (German )
Half ditto 460 " " - excepted) by the dwt. [50 lb- tob-
Moidore 348 '" " - French silver crowns, 60 " "
English Guinea, 272 " " - Spanish milled,) fift u |
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