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1249Currency

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  • Caroline Gaden
    Sep 12, 2010
      Hello Everyone
      I've been researching the monetary system in New South Wales from the
      arrival of the First Fleet and now have a better understanding of the
      mish-mash of various currencies in use eg Spanish dollars [minted in
      Mexico], rupee, mohur, pagoda, ducat, Johanna, promisary notes etc.

      In 1825 the British Government decreed that all 'colonies' should use
      the £ sterling as their basis but it took quite a while for this to take
      effect and the non-Sterling coins to disappear [about ten years in NSW].

      My questions relate to the East India Company in particular....the ships
      used St Helena as a 're-fueling' point on the way to India and also home
      again. Did St Helena have a similar variety of currency in use pre-1825?
      Was Sterling is use from the earliest days of the EIC or would a local
      currency have been acceptable to local traders?

      Many thanks
      Caroline
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