fine, and is coined into pieces of 20 and 10 marks. The gold crown is a 10-mark piece, is 9⁄10 fine, and struck at a tale of 139 1⁄2 pieces to the German pound; charge for coinage, 3 marks per pound of fine gold.

The pound of fine silver is struck into 100 marks, 9⁄10 fine. The total amount of silver coin not to exceed 10 marks per head of population. No individual need accept more than 20 marks of imperial silver coin in payments. They are accepted in any amount by the Empire and by the Federal States.

All other German coins are no longer legal tender, and have been withdrawn, with the single exception of the thaler pieces. Whatever pieces of this kind still exist are legal tender to any amount, like the imperial gold coins, each being equal to 3 marks. An Act of 20th April 1870 provides that Vereinsthalers coined in Austria before 1867 should also be full legal tender. An Act of 6th January 1876 has authorised the Bundesrath to put the thaler pieces and the Austrian Vereinsthalers on the same footing as imperial silver coins, i.e. to make them legal tender only up to 20 marks, the thaler being still reckoned at 3 marks. Since the suspension of silver sales and of the withdrawal of the silver thalers (May 1879) there is no likelihood that the Bundesrath will make use of this authority conferred upon it.

In briefest résumé, the course of the silver coinage during the preceding century may be presented thus:—

GERMANY—COURSE OF THE 1-THALER PIECES.

Thalers.
Total minted during 1750-181664,380,936
Withdrawn by the Government of the States27,788,956
Withdrawn under the new Imperial System,1871-35,652,999
""18746,319,170
""18752,900,202
""18762,582,123
""18771,465,424
""1878864,253
47,573,127
Leaving a balance not accounted for of16,807,809
Thalers.
Total minted during 1817-2224,261,735
Withdrawn under the new Imperial System, 1871-33,623,511
""18745,147,970
""18752,580,580
""18762,373,496
""18771,421,719
""1878766,908
15,914,184
Leaving a balance not accounted for of8,347,551
Thalers.
Total minted during 1823-185691,031,741
Withdrawn under the new Imperial System, 187440,000
""1875566,677
""187611,250,277
""18775,753,269
""18784,640,068
22,250,291
Leaving a balance not accounted for of68,781,450
Thalers.
Total minted during 1857-71215,863,120
Withdrawn by the Government of the States2,538
Withdrawn under the new Imperial System,18753,000
""187625,958
""187764,806,347
""187818,915,167
109,635,938
Leaving a balance not accounted for of106,177,182
Thalers.
On the whole period, 1750-1871, the total minted 1-thaler pieces amounted to395,537,532
Total withdrawn195,423,540
Leaving a balance not accounted for of200,113,992

Allowing 83,062,882 thalers as a rough equivalent for the loss by attrition, there is still a deficit of 117,051,000 thalers, or about £17,557,650 sterling to be accounted for (and laid to the account of remintings and loss by arbitrage).

ACCOUNT OF THE MINTING OF THE RECONSTRUCTED GERMAN EMPIRE—GOLD—FROM 1872 TO DEC. 1878

Origin of the Bullion supplied to the Mint. Supplied for the Empire. Supplied for Private Accounts.
Pounds Weight Fine Gold. Pounds Weight Fine Gold.
German gold coin of the old type 64,092.3 11.4
Bars 402,382.6 214,825.7
Austrian gold coins 381.7 711.9
Francs and Napoleons 391,166.5 809.7
Sovereigns 30,181.3 223.1
Russian gold coins 28,252.3 20,862.1
Isabellas 12,822.9 ...
Dollars and Eagles 16,860.1 20,548.8
Turkish gold coins 51.0 1,084.0
946,191.2