CHAPTER II

of cheap and cheapening silver, the Florentine authorities adopted a virtual gold monometallism. That the enactment was not permanently regarded and kept can only be attributed to the strength of commercial custom, and to a true perception in the mercantile community at large of the essential difficulty of the problem and its remedy. The Florentines were simply obliged to circulate all coins, gold as well as silver, because such was the universal custom of mediæval Europe. By 1552 silver foreign monies were again current in Florence, in such quantities and with such effects on the native gold currency, that they had to be again prohibited and banished (by law of 18th May 1552); renewed three years later (28th February 1555), and again in 1557 (29th April). Indeed, within the period here treated of, up to, i.e., 1660, there is a series of thirteen or fourteen separate re-enactments of the prohibition relating to these monies and the depreciated Florentine billon money ("quattrini neri"). If, during this period, Florence had occupied the commanding position that Antwerp did, quite unique interest would attach to the record of this monetary policy or experiment. But not being in that position, and being, too, quite apparently unable to enforce her own enactments in her own territory, even this merely depressive policy was partially broken down. In so Page 95 far as it was broken down she lay at the mercy of the monetary