that same period which witnessed the independent action of Austria, above detailed. Its builder was Frederick the Great, who, for this purpose, called in the advice of a Dutch merchant, Philip Graumann. It is to Page 379 this latter that is due the introduction in 1750 of the 21-gulden or 14-thaler standard, otherwise known as the Graumann standard.
Thaler = 10 1⁄2 to the mark, 12 loth fine (mark of fine silver therefore = 14 thalers or 21 guldens). Thaler = 24 groschens = 288 pfennige (24 × 12). Groschen and 1⁄2-groschen minted as divisional coins (= 1⁄24 and 1⁄48 thaler) of billon.
After the temporary debasement during the Seven Years' War, the Graumann standard was re-established in 1764, but with two differences.
- The minting of 1⁄2 and 1⁄4-thaler pieces of 12 loth silver was ordered to cease from 1766, and to be replaced from 1764 by—
| 1 ⁄ 3 | thaler, | 10 2 ⁄ 3 | loth, | 28 | to the mark | 14-thaler standard. | |
|---|---|---|---|---|---|---|---|
| 1 ⁄ 6 | " | 8 1 ⁄ 3 | " | 43 3 ⁄ 4 | " | ||
| 1 ⁄ 12 | " | 6 | " | 63 | " |
- The billon divisional money (minted primarily for the Provincial States of Prussia) was greatly increased in the amount of its issue, but depreciated in standard on a varying scale according to the districts intended, Silesia, Cleves, etc.,