CHAPTER XII. The Greek System.

the silver mines, and perhaps a greater output of gold, silver became dearer, and consequently 10 silver pieces of 170 grs. each were now equal to a gold stater. Abdera on the coast would come perfectly within the sphere of such changed conditions, and her standard would consequently likewise undergo modification. With Philip’s accession, fresh conquests and a general development of resources may have temporarily thrown more silver on the market, thus inducing him to revert to the 220 grs. standard, but the exploiting of the famous mines of Crenides increased the supply of gold to such an extent that by the time Alexander mounted his fathers throne gold stood to silver in the relation of 10:1, and it was found extremely convenient to coin this on the same footing as gold, 10 silver pieces of 135 grs. being exactly equal to the gold stater of like weight. A like explanation applies to the coinage of Thrace. Amongst the Thracian tribes who dwelt near Mount Pangaeum and worked the gold and silver mines of that region the art of coining had been known from the 6th century B.C. and they issued silver coins of about 160 grs. This is regarded by some as debased Babylonian or Persic standard. But it is far more rational to suppose that in that region gold was more plentiful in proportion to silver than it was at that time further west in Macedonia, and accordingly a certain number of silver didrachms of 160 grs. were found to represent the gold stater