being a lowering per cent, of standard as follows:—
| Oro | nacional | 1.31 |
|---|---|---|
| " | provincial | 2.84 |
| Plata | nacional | 1.59 |
| " | provincial | 2.49 |
The bearing of this change on the question of the ratio at large in Europe has been already referred to. It was again and still further for the protection of gold that the seigniorage was increased to 7.48 per cent. by the law of 17th July 1779. The later system established in 1786 (see Tables postea) has a similar bearing.
His son, Charles IV. (1789-1808), made no alteration in this latter system of Charles III.
Under Ferdinand VII. (1808-32) currency was given (1813-1823) to French gold and silver monies on a certain footing, and the seigniorage on the coins was reduced. Both under Ferdinand, however, and under his successor, Isabella II. (1832-61), this latter regulation proved ineffectual in attracting merchants to bring the metals to the Mint to be coined; and under the circumstances the circulation of French Napoleons was considered a benefit. A profound alteration was projected by the two laws of 1834; the Page 333 first of which proposed to lower the equivalence of the real to 32 from 34 maravedis, and the standard of silver to 10 dineros 12 granos (=.875), and the second, to prevent the circulation of French money. This scheme was intentionally bimetallic. It failed, however, of accomplishment, and the monetary system remained as before up to 1847.