Skip to main content
×
×
Home

The Maria Theresa dollar in the early twentieth-century Red Sea region: a complementary interface between multiple markets

  • Akinobu Kuroda (a1)
Abstract

The riddle of why the Maria Theresa dollar issued by Vienna continued in circulation for over one and a half centuries in Africa and the Middle East has never been fully explained. Contrary to common belief, the popularity of this particular silver dollar did not depend on its intrinsic content. The Maria Theresa dollar complemented other monies so well that no authority could replace it with its own currency. The circuit of the coin functioned as a buffering interface between local markets, which collected products like coffee through fractional currencies, and the international market, in which the products were traded in terms of a standard currency like sterling. The complementary role of the Maria Theresa dollar resulted from a self-organising process by markets themselves in order to stabilise transactions.

Copyright
Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

Financial History Review
  • ISSN: 0968-5650
  • EISSN: 1474-0052
  • URL: /core/journals/financial-history-review
Please enter your name
Please enter a valid email address
Who would you like to send this to? *
×

Metrics

Altmetric attention score

Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Abstract views

Total abstract views: 0 *
Loading metrics...

* Views captured on Cambridge Core between <date>. This data will be updated every 24 hours.

Usage data cannot currently be displayed