Page 406 And similarly three kinds of louis d'argents or écus:—
| The old | louis | d'argent | 9 | to the | mark. | ||
|---|---|---|---|---|---|---|---|
| The old | louis | d'argent of | 1709 | 8 | " | " | |
| " | " | " | 1715 | ||||
| " | " | " | 1718 | 10 | " | " |
On the 25th July 1719 the Compagnie des Indes obtained the profit and farm of the French Mint for a term of nine years. The first outcome of their activity was the issue of the following tariff:—
| Livres. | Sols. | Deniers. | |
|---|---|---|---|
| Écu of 1718 | 5 | 13 | 4 |
| Louis d'argent of 1709 | 7 | 1 | 8 |
| Old louis d'or | 34 | 0 | 0 |
| Old louis d'or of 1709 | 28 | 6 | 8 |
In the same year (1719, the first of their lease) this corporation further issued quite new species, namely, Quinzains d'or = 15 livres, and livres d'argent = 1⁄6-écu (both being cut at a tale of 65 5⁄11 to the mark). On the 5th March 1720 all the species were raised 41 3⁄11 per cent., the louis d'or of 1709 thus rising to an equivalence of 40 livres, and the louis d'argent of the same issue to 10 livres. On the 11th March 1720 the use of the gold specie was forbidden, and a recoinage determined on. These regulations, however, were not carried out, and by July the louis d'or had risen to 60 livres (= 1963 7⁄17 livres to the mark of fine gold), and the louis d'argent to 15 livres (= 130 10⁄11 livres to the mark of fine silver). The same enhancement prevailed in the divisional coin, and the confusion endured till the end of 1720. In September the louis d'or had fallen to 45 livres (= 1472 8⁄11 livres to the mark of fine gold), and the louis d'argent to 11 livres 5 sols. (= 98 2⁄11 Page 407 livres to the mark of fine silver). At the same time (September) a new fabrication of species, according to the standard of 1718, was undertaken. Louis d'or, 25 to the mark, to issue at 54 livres;