livres 18 sols. The downward course of the specie set strongly in, and by 1726 they had fallen to 12 livres and 3 livres respectively. This facilitated the great reform and recoinage of 1726 (see text, p. 169). This recoinage was carried out on the basis of the edict of 1709—
Louis d'or, 30 to the mark = 20 livres. Louis d'argent, 8 to the mark = 5 livres.
By the edict of May of the same year their equivalence was raised 20