Economic and Legal Reforms
Charlemagne was faced with a variety of currencies at the start of his reign. To correct problems these various currencies caused, he standardized a system based on a pound of silver (Livre tournois). Deniers were minted with a value of 240 deniers to a pound of silver. A second value, the solidus, was also created as an accounting device with a value of twelve deniers or one twentieth of a pound of silver. The solidus was not minted but was instead used to record values such as a "solidus of grain" which was equal to the amount of grain that twelve deniers could purchase.
Read more about this topic: Carolingian Renaissance
Famous quotes containing the words economic, legal and/or reforms:
“But I would emphasize again that social and economic solutions, as such, will not avail to satisfy the aspirations of the people unless they conform with the traditions of our race, deeply grooved in their sentiments through a century and a half of struggle for ideals of life that are rooted in religion and fed from purely spiritual springs.”
—Herbert Hoover (1874–1964)
“The steps toward the emancipation of women are first intellectual, then industrial, lastly legal and political. Great strides in the first two of these stages already have been made of millions of women who do not yet perceive that it is surely carrying them towards the last.”
—Ellen Battelle Dietrick, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 13, by Susan B. Anthony and Ida Husted Harper (1902)
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)