685 - Wage payments and foreign coinage in Netherlands Limburg 1839-1914

Wetenschappelijke publicatie
Date 1 May 2002

This study analyses the relationship between wage payments, the persistent circulation of foreign coins and the shortage of national currency in Netherlands Limburg between 1839 and 1914. This region is of particular interest because of its complex political past, its geographical position and the prolonged circulation of francs and thalers. The overvalued foreign coins even threatened to drive out Dutch coin altogether. According to the authorities Limburg entrepreneurs were to be blamed as they persisted in paying their workers in overvalued foreign coin. In the last quarter of the 19th century the guilder made its way into Limburg. But at the beginning of the 20th century the emerging mining industry gave renewed impetus to the circulation of foreign specie, now predominantly Reichmarks. On the eve of WO I, however, the general willingness to accept foreign coins payments had diminished in Limburg. Key words: Economic history, wages, money, Netherlands JEL codes: N13