DeFoe, Robinson Crusoe (1719):Money
From Marteau
| Revision as of 08:45, 30 June 2006 Olaf Simons (Talk | contribs) ← Previous diff |
Revision as of 08:52, 30 June 2006 Olaf Simons (Talk | contribs) Overview and first orientation Next diff → |
||
| Line 23: | Line 23: | ||
| One will avoid the problems by handling gold and silver moneys separately. We have given equivalents in grams fine silver for all gold coins mentioned. The additional computation in pounds sterling follows the assessment DeFoe’s readers would have passed: such an amount of gold would be so and so many pounds sterling in 1719. The few sums in silver could be brought onto a common denominator of English pounds sterling without any such precaution. | One will avoid the problems by handling gold and silver moneys separately. We have given equivalents in grams fine silver for all gold coins mentioned. The additional computation in pounds sterling follows the assessment DeFoe’s readers would have passed: such an amount of gold would be so and so many pounds sterling in 1719. The few sums in silver could be brought onto a common denominator of English pounds sterling without any such precaution. | ||
| + | |||
| + | The far bigger question is that of values in modern moneys. Any such computation will be extremely problematic. It will here be better to keep an eye on contemporary prices and wages. Was the amount mentioned on p.38 much money? That depends on the perspective - it might have been much for a man with a yearly income of £45 and little for someone with an estate of several hundred pounds per annum. The last links given above should supply the information needed for the more specific estimates. | ||
| ==Literature== | ==Literature== | ||
Revision as of 08:52, 30 June 2006
Tools
- a calculating tool for computations with English money
- a conversion tool for Portuguese and English moneys
- a conversion tool for Spanish and English moneys
- information about the gold-price development
- an overview of 18th and 19th century wages in English pounds sterling
- Collected information on prices and wages in pounds sterling at the beginning of the 18th century
Overview and first orientation
Money plays an important role in DeFoe's Robinson Crusoe – even though the islander repeatedly celebrates his triumph over the whole attribution of value to money, a medium of no value to him, who is robbed of all human commerce. Crusoe keeps a continuous account of his wealth and he is overwhelmed when he has later to realise how rich he became in the time of his isolation. His computations mention
- English pounds sterling,
- Portuguese Moidors or Moydors i.e. gold moedas and Cruisadoes, i.e. silver cruzados,
- Spanish Pieces of Eight, i.e. pesos, silver coins of eight reales,
- unspecified (gold) ducats
- unminted gold
The computation with these moneys is not particularly difficult. The few coins mentioned by DeFoe contained stable amounts of gold and silver. One knew how to calculate between these coins. Our marginal notes offer the equivalents in English money at the rates valid in 1719.
To give computations for 1719 is not a bad compromise. A gold Moidore minted in 1670 would not contain one gram less gold in 1719 – its value as a gold coin would remain stable. A problem was created by the unstable gold/silver ratio. None of the European currencies could fix a price at which a certain amount of gold would match a certain amount of silver; yet all the currencies gave sums on a silver standard. The problem increased where a country failed to stabilise its silver money (by issuing new coins of the established quality). The 1680s and 1690s saw the English public thus unwilling to pay much for the silver coins circulating. The value of the gold guinea rose from 20 to 30 silver shillings before 1694.
One will avoid the problems by handling gold and silver moneys separately. We have given equivalents in grams fine silver for all gold coins mentioned. The additional computation in pounds sterling follows the assessment DeFoe’s readers would have passed: such an amount of gold would be so and so many pounds sterling in 1719. The few sums in silver could be brought onto a common denominator of English pounds sterling without any such precaution.
The far bigger question is that of values in modern moneys. Any such computation will be extremely problematic. It will here be better to keep an eye on contemporary prices and wages. Was the amount mentioned on p.38 much money? That depends on the perspective - it might have been much for a man with a yearly income of £45 and little for someone with an estate of several hundred pounds per annum. The last links given above should supply the information needed for the more specific estimates.
