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 and, economic, legal and/or reforms:
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