Chapter 199 Currency Reform (Adding No.2 for the Alliance Leader)
Expanding the army and building roads and irrigation canals required large sums of money, and by mid-1038 William had spent more than 100,000 pounds of silver.
Although he was very distressed by the disappearance of large sums of gold and silver coins from William's own coffers, William did not regret doing so, and the expansion of the army was to strengthen the military power of Normandy, and the construction of roads and agricultural facilities was to develop the economy of Normandy, all of which were taken in order to achieve William's goals.
By the middle of 1038 this year, William's 24,000 standing soldiers, including the 1st Legion, the 2nd Legion and the Guards Brigade, had been expanded and trained, and as long as William gave an order, this wolf-like army would become a sharp blade in William's hands, defeating any of William's enemies and seizing the opponent's territory.
Wide roads connected the towns and fortresses of the Duchy of Normandy, where busy caravans sped along the roads, and lovely yellow, orange and orange gold coins flowed into William's coffers through the hands of Norman tax collectors.
The intricate load of agricultural irrigation ditches in front of me was built by recruiting war refugees, and the six-month-long war last year caused a large number of war refugees, which gave William great convenience, he could recruit refugees at a very low price to build roads, agricultural ditches, repair castle towns, and build St. Peter's Cathedral, and William paid only some black bread.
But at this time, the thriving Normandy could not dispel William's heart, he picked up a silver coin and a gold coin in both hands, and his frowning brow could not be stretched.
The source of William's displeasure was the motif of King Henry I of France on the two gold and silver coins.
Looking at the fineness of these two gold and silver coins, the gold and silver content is very high, it is obvious that they were minted within the last year or two, and they were able to circulate in the Duchy of Normandy, which shows that the gold and silver coins minted by Henry I were very popular with the Normans, which is not good news.
At this time, the coins in circulation in William's Duchy of Normandy were mainly silver finneys and Dinari silver coins minted during the Carolingian dynasty and Charlemagne in the eighth century, and the two silver coins were of equal value, 1 finney = 1 dinari silver coin = 1.08g silver = 0.022g gold, this small denomination silver coin was the most common currency of ordinary Normans.
In addition, there are also Triss gold coins such as common gold coins, 1 Triss gold coin = 20 pfennig = 21.6g silver = 0.44g gold, 12 Triss gold coins can be exchanged for 1 pound of silver, there is no pound of silver gold coins here, but a name for the weight of silver.
Since last year, William has withdrawn all flags and logos about the Kingdom of France, and has vigorously advocated Greater Normandis, saying that Normans are superior to the French and should not be subservient to French rule.
At the same time, William also retrieved the envoys in Paris, and from then on he no longer went to Paris to meet Henry I, no longer responded to the king's conscriptions, and no longer sent a single soldier, so that the Duchy of Normandy became a de facto vassal independent of France.
But the gold and silver coins minted by King Henry in the Duchy of Normandy worried William, and these coins may be inconspicuous, but if the Normans used coins bearing the face of King Henry I of France all year round, then the presence of King Henry I of France in the hearts of Normans would be difficult to erase, and William's plan for independence would be difficult to deliver.
In addition, allowing French gold and silver coins to circulate in Normandy would cause an even greater crisis, and King Henry of France, as the issuer of the coins, would control the economy of the Duchy of Normandy, and as long as some economic means were adopted, the Duchy of Normandy would be greatly weakened and no longer able to fight against King Henry.
Faced with a possible crisis, William was not flustered, and immediately summoned Baron Hubert, Baron Adolf, and Steward Osborne to discuss coping strategies.
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"Hubert, Adolf, Osborne, you look at the two gold and silver coins, that's why I summoned you here." William placed a gold coin and a silver coin on the table and looked around at the crowd.
As the treasurer, Osborne picked up the two gold and silver coins and looked at them carefully for a moment, then looked up at William and said, "Young Master William, except that the head and texture on this coin are different from our common Triss gold coins, the weight of this gold coin is completely equal to that of Triss gold coins, and the gold content and fineness are higher. This silver coin also bears the title of His Majesty Henry, which is the same weight as the silver Finney.
It appears that both gold and silver coins were minted and issued by our King His Majesty Henry I. Do you want to mint our Normandy coins too? ”
As the butler of Osborne, who knew William best and was closest to him, he guessed his master's intentions after hearing William's words.
"Yes, that's right, Osborne, the gold coins in your hand I call the franc, and the silver coins are called tinsons, and they will circulate throughout Western Europe by virtue of their good condition and the endorsement of the Kingdom of France, which will have a great influence on King Henry I of France, which I absolutely will not allow, and we must take corresponding measures." William nodded slightly, and said: "As the most powerful prince of the French Kingdom, my Duchy of Normandy should have a currency that matches its status, whether it is the existing gold and silver coins, we must mint a set of them, so that they can pass through the whole of France and Europa." ”
William did not express his worries, although several of the people present were the elite of the moment, but without the financial knowledge of later generations, they would not have guessed the dangers of allowing such gold and silver coins to circulate, so William could only use this argument to convince the other party.
"I've got your back, William. In order to expand the international influence of the Duchy of Normandy, we also need a currency of our own. Baron Adolf nodded in agreement.
"Whatever you want, I will always obey your will, Your Highness William." Baron Hubert replied solemnly.
"Very good, with everyone helping me, why worry about the Normandy family not prospering?" William laughed heartily and exclaimed, "You see, these are the three coins that I have struck in Tochlaud, they are the silver 'penny' equivalent of 1 fennig, the 'shilling' silver coin equivalent to 1 Triss gold coin, and the 'Golden William' gold coin equivalent to 1 pound of silver. ”
As he spoke, William untied a pocket from his waist, raised his hand and trembled, three gold and silver coins of different sizes fell out of the pocket, and a crisp and pleasant sound sounded with their figures.
"Whatever their material and value, the obverse of these coins is my portrait of the upper body, the Normandy double lion coat of arms and an olive branch around the side of the coin, and in the center of the reverse is the value of the coin, such as this 'gold louis' equivalent to a pound of silver, and the value of a pound of silver on the north side." William explained, pointing to the three gold and silver coins.