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1252Re: [St.H.Fam.Hist.] Currency

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  • Caroline Gaden
    Sep 14, 2010
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      Many thanks John, I guess in the early days there would have been some
      trading in coins as ships went to and from India and other places... a
      ready movement of sailors and troops, so if one person on the way 'home'
      to England could only pay in rupees for example I imagine the local
      shopkeepers would have been able to give change to another person
      heading in the opposite direction. The arithmetical skills for
      conversion must have been good and becuse it had a useful need, I'm sure
      the people all quickly learned to do it... best way to teach kids
      subtraction is the dart board!!
      Appreciate your help
      Cheers
      Caroline

      John Coyle wrote:
      >
      >
      > Hi Caroline - there certainly was a local currency in St. Helena: I have
      > an example of a halfpenny dated 1821, and I believe these are quite common.
      >
      > The coin is copper, 28mm in diameter, and the face bears the arms of the
      > East India Company, while the obverse has a wreath of laurel all around
      > the edge, and the words "S^t HELENA HALFPENNY" in a circular format next
      > inside. The date is in the centre, in a straight line.
      >
      > You can find an illustration here:
      >
      > ___http://tinyurl.com/29alty6_
      >
      > where it is described as a commemorative struck on Napoleon’s death
      >
      > or here
      >
      > ___http://tinyurl.com/39bre3b_
      >
      > which is a better illustration.
      >
      > HTH
      >
      > John Coyle
      >
      > Brisbane, Australia
      >
      > -----Original Message-----
      > From: st-helena-genealogy@yahoogroups.com
      > [mailto:st-helena-genealogy@yahoogroups.com] On Behalf Of Caroline Gaden
      > Sent: Monday, 13 September 2010 10:02 AM
      > To: St Helena list
      > Subject: [St.H.Fam.Hist.] Currency
      >
      >
      >
      > 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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