AFRICA DEVELOPMENT INDICATORS 2011

At the beginning of the seventeenth century, the Dutch stood at the head of European commerce; and Amsterdam, the capital of Holland, was the central point of trade. The currency of Amsterdam consisted not only of its own coins, but principally of the coins of all the neighbor- ing countries; and many of the pieces were so worn and mutilated as to fall short several per cent in point of actual value. But as these coins were commonly received at par, in all small transactions, it was impos- sible to get any new coin into circulation; for, as fast as it was furnished by the mint, it was.

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