AUSTRALIAN CURRENCIES. 593 



£ s. (I. 



A gold moliiir 1 17 6 



A pagoda 8 



A Spanish dollar 5 



A rupee 2 6 



A Dutch guelder 2 



An English shilling Oil 



A copper coin of one ounce 2" 



From this proclaruation it will be seen that Governor 

 King increased the currency value of the penny by 100 per 

 cent. ; and at the same time added a premium here and there 

 to most of the other coins. These were a mixed lot to be 

 proclaimed as legal tender in a British Colony. 



The English penny, shilling, and guinea ; the Portuguese 

 Johanna or "joe," and its half; the Indian mohur and rupee ; 

 the Chinese pagoda ; the Spanish dollar ; and the Dutch 

 guelder. 



At the date of the foregoing proclamation a notice was 

 published stating that when a sufficiency of copper coin was 

 received, of which due notice would be given, no private 

 notes or cards Avonld be allowed to circulate ; that copper 

 coin would not be a legal tender for any sum exceeding £5; 

 and that the importation or exportation of copper coin 

 exceeding £5 in value should be punished by fine of treble 

 its value, and forfeiture of the sum so exported or imported. 



At this date the smaller copper coins of half-ounce (half- 

 penny), and quarter-ounce (farthing) were current at double 

 their nominal value. 



The reference to "private notes or cards" in the foregoing 

 notice points to the probable commencement of that system 

 of issunig promissory notes for small sums which, at first a 

 great convenience, became subsequently the cause of such a 

 terrible depreciation of currency. 



INotwithstanding the threatened prohibition contained in 

 the foregoing proclamation, the system continued in force 

 and grew in importance with the growth of the colonies. 

 Every tradei- regularly issued his notes, which were generally 

 type-printed and in the following form : — 



" Sydney, May 20th, 1810. 

 No. 784. 



On Demand, I promise to pay the Bearer 



Sixpence 

 In copper coin. 



John Smith." 



