This coin remained the mint coin of the Dutch system, without any further alteration of tariff, or any need of it till 1806.
With regard to the development of a specific law of tender, the legislation of the United Provinces was peculiarly involved. The first declaration of a wide nature was that of the 26th September 1686, which reduced certain coins,—the silver ducat and two others—to the position of trade money merely. This was repeated in the declaration of the States-General of the 7th August 1691. The declaration of the 1st August 1749 ascribed a similarly restricted character, of trade money merely, to all gold coins except the gold rijder and its half. These latter were fixed at an equivalence of 14 and 7-florin respectively. The gold ducats were not fixed, their course as trade money might fluctuate daily. They might be taken freely by weight, and at values determined by the course of trade. Page 351
The meaning of this provision can only be read in the light of the experience of the preceding half century. Up to this date (1749) there had existed, in theory, a silver standard with gold rated to it by each succeeding tariff. The fall of silver throughout the seventeenth century had acted adversely on gold, and for long the currency had consisted almost entirely of silver. This fall received some slight check in the earlier part of the eighteenth century, and the result was a reverse tendency. Gold came back into circulation, and the full weighted silver coins began to flow out and away. A bitter cry was accordingly raised in 1720 by the commercial community, and already in 1720 the Mint authorities had proposed the adoption of the gold rijder as standard, in order to stop the drain.
In 1749, however, the Mint officials felicitated themselves on the non-adoption of this proposal, and prayed that the ducat should be merely declared trade money (26th March 1749); and it was on this advice that the plakkaat of 31st March 1749 passed. It proved insufficient to prevent