M. Natalis de Wailly, in his recent fine edition of Joinville, determines the valuation of these livres, in the reign of St. Lewis, by taking a mean between a value calculated on the present value of silver, and a value calculated on the present value of gold,[2] and his result is:
Livre Tournois = 20·26 francs.
Livre Parisis = 25·33 „
Though there is something arbitrary in this mode of valuation, it is, perhaps, on the whole the best; and its result is extremely handy for the memory (as somebody has pointed out) for we thus have
One Livre Tournois = One Napoleon.
„ „ Parisis = One Sovereign.
Venetian Money.
The Mark of Silver all over Europe may be taken fairly at 2l. 4s. of our money in modern value; the Venetian mark being a fraction more, and the marks of England, Germany and France fractions less.[3]
The Venice Gold Ducat or Zecchin, first coined in accordance with a Law of 31st October 1283, was, in our gold value, worth ... 11·82 francs.[4]
or English ... 9s. 4·284d.
The Zecchin when first coined was fixed as equivalent to 18 grossi, and on this calculation the Grosso should be a little less than 5d. sterling.[5] But from what follows it looks as if there must have been another grosso, perhaps only of account, which was only ¾ of the former, therefore equivalent to 3¾d. only. This would be a clue to difficulties which I do not find dealt with by anybody in a precise or thorough manner; but I can find no evidence for it.
Accounts were kept at Venice not in ducats and grossi, but in Lire, of which there were several denominations, viz.: