THE HISTORY OF OLD ROME

II. From the Abolition of the Monarchy in Rome to the Union of Italy

From: The History of Rome, by Theodor Mommsen
Translated with the sanction of the author by William Purdie Dickson

CHAPTER VIII - Law, Religion, Military System, Economic Condition, Nationality

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Page 41

Silver Standard of Value

Lastly Rome, as head of the Romano-Italian confederacy, not only entered into the Hellenistic state-system, but also conformed to the Greek system of moneys and coins. Up to this time the different communities of northern and central Italy, with few exceptions, had struck only a copper currency; the south Italian towns again universally had a currency of silver; and there were as many legal standards and systems of coinage as there were sovereign communities in Italy.

In 485 all these local mints were restricted to the issuing of small coin; a general standard of currency applicable to all Italy was introduced, and the coining of the currency was centralized in Rome; Capua alone continued to retain its own silver coinage struck in the name of Rome, but after a different standard. The new monetary system was based on the legal ratio subsisting between the two metals, as it had long been fixed.(43)

43. Cf. II. VIII. Inland Intercourse in Italy

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