That is equivalent to about $6.00. To distinguish this two thirds rate from the one third "Proclamation or Current Money" rate it was referred to as the rate in "Common Money" or "Pennsylvania Money." (By contrast, you can't evenly divide a U.S. dollar three ways -- let alone 6, 12, or 15.) = 12d. In 1710 the London Board of Trade and the Privy Council allowed a 1708 Virginia law to stand which valued underweight Spanish dollars at 60p (5s) and full weight coins at 65.5p (5s 5.5p), so the authorized "upcrying" of a Spanish dollar in Virginia was still only a 20% increase over the sterling rate (McCusker, 205-206). But we don't. How much is a shilling in old money? Shows the price for 50 pounds of chocolate and more. To get around this problem, certain commodities like tobacco were used as a kind of currency. In return the colonies would be protected by British arms and civilized by British rule. Decimalisation occurred in 1971 and marked the abolishment of the shilling. Currency conversions vary from day to day. [1] (The modern pound follows the decimal system and, since 1971, has been divided into 100 pence.) Which politician received the most support from younger voters A. Ross Perot. This problem was critical as it adversely affected local commerce and forced the colonists to turn to foreign coins, primarily Spanish American silver produced in Mexico and Peru. From its first castingin the 16th century through the mid 20th century, the shilling was made of silver. 15 mi.) In 1630 the conversion rate between English Shillings and Dutch Guilders was 2:1 that is to say one guilder was 2 shillings and hence one lion dollar was 4 shillings and one rix dollar worth 5 shillings or a crown. In 1672 Massachusetts valued the Spanish dollar at 72d (6s) or 33% above par (parity with Britain). But reading eighteenth-century references to money can be like reading a foreign language. In 1708 the legislature tried to raise the rate of Spanish dollars minted in Mexico or Seville by increasing the value of an ounce of silver in those coins to 96d (8s) or 55% over sterling, which put the eight reales dollar at 84d (7s). A 1791 treaty with the Cherokee Indians set the value of horses at $50 each (see article IV). This happened before his family could inherit his property, and the process of sorting out who owed whom money could be lengthy and complicated. It provides information in narrative form for many localities beginning with. The book says simply that, increased, but some versions of the book put to film have Scrooge doubling Cratchits salary. With the shilling worth about $6.26 and his salary being 15 shillings, we can easily calculate that Bob Cratchit was bringing home just under $95 every single week for 60 hours work. 92, 1846 v.3, p. 25. In the 1700s, not only was there no Federal Reserve, but the policies of the English Parliament and Crown actually restricted the amount of money available in the colonies -- and made commerce difficult, as a result. Values are generally expressed as .s.d., or else l.s.d., as in 12 10s. Label vector designed by Ibrandify - Freepik.com, Two Worlds: Prehistory, Contact, and the Lost Colony (to 1600), The Creation and Fall of Man, From Genesis, Maintaining Balance: The Religious World of the Cherokees, Spain and America: From Reconquest to Conquest, Juan Pardo, the People of Wateree, and First Contact, The Spanish Empire's Failure to Conquer the Southeast, Primary Source: Amadas and Barlowe Explore the Outer Banks, Primary Source: John White Searches for the Colonists, Introduction to Colonial North Carolina (1600-1763), Primary Source: A Declaration and Proposals of the Lords Proprietors of Carolina (1663), William Hilton Explores the Cape Fear River, A Brief Description of the Province of Carolina, Primary Source: The Fundamental Constitutions of Carolina (1669), The Present State of Carolina [People and Climate], An Act to Encourage the Settlement of America (1707), The Life and Death of Blackbeard the Pirate, John Lawson's Assessment of the Tuscarora, Primary Source: A Letter from Major Christopher Gale, November 2, 1711, Primary Source: Christoph von Graffenried's Account of the Tuscarora War, The Fate of North Carolina's Native Peoples, Carolina Becomes North and South Carolina, Primary Source: Olaudah Equiano Remembers West Africa, Primary Source: Venture Smith Describes His Enslavement, An Account of the Slave Trade on the Coast of Africa, African and African American Storytelling, Expanding to the West: Settlement of the Piedmont Region, 1730 to 1775, The Moravians: From Europe to North America, From Caledonia to Carolina: The Highland Scots, William Byrd on the People and Environment of North Carolina, Primary Source: Jesse Cook's Orphan Apprenticeship, Benjamin Wadsworth on Children's Duties to Their Parents, Nathan Cole and the First Great Awakening, Material Culture: Exploring Wills and Inventories, Probate Inventory of Valentine Bird, 1680, Probate Inventory of James and Anne Pollard, Tyrrell County, 1750, Primary Source: Will of Richard Blackledge, Craven County, 1776, Probate Inventory of Richard Blackledge, Craven County, 1777, Fort Dobbs and the French and Indian War in North Carolina, An Address to the People of Granville County, Primary Source: Herman Husband and "Some grievous oppressions", Orange County Inhabitants Petition Governor Tryon, An Act for Preventing Tumultuous and Riotous Assemblies, An Authentick Relation of the Battle of Alamance, Beginnings of the American Revolution: Resistance and Revolution, Primary Source: The First Provincial Congress, Political Cartoon: A Society of Patriotic Ladies, Primary Source: Backcountry Residents Proclaim Their Loyalty, Loyalist Perspective: Violence in Wilmington. Just as we use quarters, nickels, and dimes, the English had (and still have) other kinds of coins besides pennies and shillings, and some of those coins had colorful names. For centuries, the shilling held a value relative to the pound of 20 shillings to one British pound sterling, and one shilling equaled twelve pence. 1796 - Rye meal, butter, pork, chickens, beer, beans, live pig, wheat, corn, pigeons, fish, 1797 & 1798 - Potatoes, apples, corn, cider, mutton, Meals on the road - Breakfast at half way house in. ($0.31) Shows price to mail a domestic letter. Prior to the decimalisation of the UK currency in 1971, one pound was equal to 240 pence. Near the end of the tale, we again hear of the coin as a jubilant and revived Scrooge shouts out his bedroom window to a boy on the street below. It was some years since the tables below were compiled - an alternative up-to-date source may be found at the Measuring Worth site. What factual information is conveyed in this source? The 1872 Report of Commissioners on Bureau of Labor Statistics to the [New Hampshire] Legislature is an incredibly rich source of wages dating from the 1790s such as, Tells annual salary (in pounds) of a reverend in Chester in. In 1843, the year A Christmas Carol was published, the front of the shilling bore an image of a young Queen Victoria. emish dollars remained legal tender in the United States until 1857, but Americans often referred to a quarter as "two bits" well into the twentieth century, and the New York Stock Exchange counted stock values in eighths of a dollar until the 1990s. In 1695, on the contrary, the value of the silver coin was not kept up by the gold coin; a guinea then commonly exchanging for thirty shillings of the worn and clipt silver. Shows averages for each century from 1200 to 1800, expressed in pence (abbreviated "d.") Also shows average daily wages for certain groups of years in the 1700s. Rates for coach transportation in New York City, listed in pounds and shillings. Lacking the smaller coins, Americans often cut the coins into eight smaller pieces or "bits." Prices for CLOTHING and SEWING SUPPLIES, 1790s, Prices for TRAVEL and TRANSPORTATION, 1790s. How much was a pound worth? There is no longer a shilling, which makes accounting far simpler but makes British money considerably less interesting to foreigners! (To complicate the work of a student historian, the abbreviation p now stands for pence, so "50p" is 50 pence, or half a pound.) The colonial monetary units of pounds and shillings were simply a bookkeeping system or what is called a "money of account" used to keep track of the various foreign denomination coins in circulation. This primer will help you understand the value of money in colonial America -- what kinds of money were used, how people accounted for it, how they got it, and what it could buy. Pounds, shillings and pence were the basic currency of Britain throughout the period covered by the Proceedings, having a consistent relationship of 12 pence to the shilling and 20 shillings to the pound. Six dollars is a fantastic tip for such a small chore, and he would get five times that about thirty dollars if he returned along with the merchant and the bird. Turning commodities into "proclamation money" also enabled cash-poor colonists to pay their taxes in goods they had available to them. Source: The author of this travel narrative reports on prices for houses and land he encountered while touring the U.S. in 1794, including of elegant houses, Shows typical land prices and the cost to rent fields in, The author of this travel narrative reports on prices for houses and land he encountered while touring the U.S. in 1794, including of estates in, The author of this travel narrative reports on prices for houses and land he encountered while touring the U.S. in 1794, including of land for. When you examine records of daily life in the colonies, you will frequently see references to money -- the value of goods in a will or probate inventory, prices of goods for sale, or rewards for the return of freedom-seeking enslaved people orservants. (pence) per mile in 1793. In 1709 Pennsylvania valued the Spanish dollar back to 72d (6s), which was the proclamation rate of 33.33% over sterling, however by the 1742 the dollar was trading at 90d (7s6d), a 66.66% increase over sterling. Value of $1 from 1700 to 2023. What do I believe and disbelieve from this source? The eight reales was the highest unit of Spanish silver in the New World, similar in size and weight to the thalers of the various German states, the French cu, the Portuguese cruzado and the ducatoon of Holland; colonists called the eight reales coin a "dollar," from the Dutch "daalder" (a derivative of the German thaler). What do I not understand about the source? The continual "upcrying" of silver made bookkeeping difficult but, from the British perspective, what was even worse was that it also induced colonists to keep their silver in the colony where its value was ever increasing rather than to spend it on British imports. Lists attributes of dwelling houses (stories, sq. Each colony functioned as an independent government creating their own laws and regulations. Calculate purchasing power. 2 shillings are 10p. Links to government documents and primary sources listing retail prices for products and services, as well as wages for common occupations. In Virginia the Spanish dollar remained at 60d (5s) from 1655-1710, which was after the proclamation rate had become law. ("You paid how much for that?"). $1 in 1700 is equivalent in purchasing power to about $72.39 today, an increase of $71.39 over 323 years. Which Side to Take: Revolutionary or Loyalist? Chart lists the wage paid for one day of labor in Albany, New York for each year from 1793-1846. Shows charges to travel on a toll road between Philadelphia and Lancaster, PA in 1794. There wasn't enough cash to go around -- not enough to cover the value of all the goods and services that were available to be bought and sold. We've all been short on cash, but in colonial America, nobody had enough cash. Not included are postage rates for ship and steamboat letters or letters for local delivery. As a result, wealthy planters who had cash could accumulate a great deal of power and influence by lending money -- or threatening not to. Wages in the United States, 1780-1789. The author of this travel narrative reports on prices for houses and land he encountered while touring the U.S. in 1794, including of: The author of this travel narrative reports on prices for houses and land he encountered while touring the U.S. in 1794, including for lodging in, This Philadelphia printer's advertisement in the, In a narrative of travels in 1794, prices are reported for. Copy. A coin is a unit of money in the world of money. The colonies had no banks. In Cratchits case, were talking $1.60 per hour in todays dollars. Of course this problem was not limited to Massachusetts. 3 shillings are 15p. Based on the British standard that one troy ounce of silver was valued at 62d (5s2d) in British sterling (that is .925 fine silver) the value of a Spanish dollar was 54d (4s6d). Today, we'd call this corruption and bribery, but in the 1700s it was perfectly common to use public office for personal gain, and vice-versa. This means that today's prices . The author of this travel narrative tells prices he experienced while touring the U.S. Searchable by keyword and by year of transaction, this database shows George Washington's household accounting records, listing the prices he paid for goods and services from the 1750s-1790s. Shows average prices of bread in England for each year from 1660-1899 on pages 27-35. Mercantilism, the prevailing economic philosophy of the 1700s, held that a nation should accumulate as much gold and silver -- hard currency -- as possible, by exporting more goods than it imported. Suppose your grandfather tells you that he used to pay only a nickel for a Coke, and you want to tell him what that nickel is worth in "today's dollars." A pound was worth 20 shillings, while a shilling was worth a dozen pennies. After numerous experiments, the British currency settled down to a standard set of coins and values. The old shilling coin, which became the 5p piece, is now worth 2, reversing inflation since 1971. Lists wages of early American bricklayers, carpenters, masons, etc. To do so is comparable to treating modern Canadian . Prices and goods available varied widely from colony to colony, and the relative prices of goods were very different from what they are today. Generally, colonial rates fluctuated upward through about 1750. The eighteenth-century monetary system makes no obvious sense in 2002. Here are some examples of the abbreviations you might find in eighteenth-century documents: The United Kingdom converted to a decimal system of money in 1971, so today a pound is worth 100 pence. The units of account in colonial times were pounds, shillings, and pence (1 = 20s., 1s. The poundwhich, in the Middle Ages, was valued the same as one pound of sterling silverhad 20 shillings, and each shilling had 12 pence (pennies). The shilling (1/-) was a coin worth one twentieth of a pound sterling, or twelve pence. Shows the price of hats, shoes and boots in British pounds sterling, p.99. The value of money can be measured in a variety of ways, though -- as a percentage of the gross domestic product (the total value of goods and services produced in an economy), by how much of a fixed bundle of consumer goods it could buy, or by how it relates to wages for unskilled labor. 2 gr. No wonder the children all look so thin in the movie, and poor Tiny Tim was wasting away due to malnutrition. The fanciest set of sheets for it, though, costs less than $200 -- and that includes pillowcases! Professor John J. McCusker has written, "750 in Massachusetts during 1750 is worth . Required fields are marked *. Today, global trading in currency sets exchange rates, but there were no international banks to set exchange rates in the 1700s. If you have read much British literature or watched movies based on it, you have come across the shilling. 62-63). Female servants were paid five shillings per week and day laborers received four shillings per day, or $10 per month. This article (published in 1930) lists wages of early American bricklayers, carpenters, masons, etc. Be sure to share them in the comments section. How much is a quid compared to a dollar? This system is certainly more complicated than dollars and cents, but it has its own logic. That these "monies of account" were not on par with British coinage and that there value differed between the colonies made business quite cumbersome, especially for English exporters attempting to trade with the various colonies. Expressed in terms of the value of a Spanish dollar the exchange rates in the later colonial period would be as follows: I. In the south the term used was "Proclamation Money" recalling Queen Anne's 1704 proclamation. Clergy salary in New Hampshire, 1790 & 1793, House and land values - District of Columbia, 1794, House and land values - Massachusetts, 1794, House and land values - Pennsylvania, 1794, Massachusetts - Prices for household items, Candles, wood, soap, coal, and wool (various towns) - 1794, Massachusetts - Prices for clothing and sewing supplies, Massachusetts - Prices for hardware and building supplies, https://libraryguides.missouri.edu/pricesandwages, Average annual earnings in the U.S., 1790s, carpenters, hatters, and saw mill workers, Comparison of wages in the U.S. and England, 1790s-mid 1800s, Military medical personnel - Compensation, 1799-1802, Wages by occupation - Massachusetts, 1790s, Wage for one day's labor in Albany (New York), 1793-1846, Unskilled labor - Pay in New York state, mid 1790s, Vermont farm labor daily wages, 1780-1820s, Agricultural labor - Average daily wages in England, 1200-1811, Wages for household occupations - London, 1776, History of Wages in the U.S. from Colonial Times to 1928, Online calculator: Present-day purchasing power of historic monetary amounts, "How much is that in real money? Thats how value was measured back then. The pound had an average inflation rate of 2.18% per year between 1770 and today, producing a cumulative price increase of 23,234.70%. A farm family's account book shows a wide variety of items that were purchased, along with prices. And even if you can translate all the terms into raw numbers, it's hard to know what those numbers meant to people. 62-63). Please cite as follows: Under the new system, 100 pence would equal one pound. Twelve pence (12d) was equal to a shilling, and so twenty shillings made a pound (20 x 12 = 240). The symbol for the pound is , based on the letter L for libra, which was the basic Roman unit of weight just as the pound is the basic English unit of weight. The shilling held roughly the same 1/20th value in proportion to the standard unit of currency. What is the best estimate of the capacity of a juice box? The most widely used coin in the colonies was the eight reales (piece of eight), primarily clipped underweight examples that had made their way north from Mexico through the Bahamas. Here is what I learned about comparative values in these two nations using a shilling-based currency today: When we get a look at average monthly net salaries, we begin to understand the concept of cost of living. In real terms, a shilling or 5p was worth a lot more in 1970 than it is today. In practice then, colonists used reales, stuivers, cus, thalers and other foreign denominations for their actual currency. Source: Universal London Price Current. This is somewhat comparable to the Franc, a monetary unit currently used in France, Belgium and Switzerland but with very different values; similarly the British, Massachusetts, Pennsylvania and Virginia shillings had different values. Marie Concannon, Government Information Librarian 1 ( one pound) equalled 20 shillings (20s or 20/-) 240 pennies ( 240d ) = 1. Who created this source, and what do I know about her, him, or them? The chronic money shortage and the desire for luxury goods thus meant that colonists both rich and poor were bound up in webs of debt. In the Carolinas, which were not divided until 1712, the Spanish dollar was valued at 60d (5s) until 1683 when it was legislated at 72d (6s), for a 33.33% increase over sterling. 6d., then, was twelve pounds, ten shillings and sixpence. What is implied or conveyed unintentionally in the source? In Uganda, a standard combo meal (sandwich, fries, and drink) at your local McDonalds restaurant will cost 20,000 shillings. Shillings (s) Pence (d) Today's pence (p) The result of the calculation is intended to be a general guide to historical values . There were 20 shillings in the pre-decimal pound sterling. Today, in the United States, the Federal Reserve manages the money supply so that there is always enough money available and the economy can continue to grow. Source: Library of Congress blog. Worth 20 shillings in the pre-decimal pound sterling the world of money the! Below were compiled - an alternative up-to-date source may be found at the worth!, has been divided into 100 pence would equal one pound year from 1793-1846 wage paid for one of. York City, listed in pounds and shillings less than $ 200 -- and that pillowcases! $ 200 -- and that includes pillowcases a wide variety of items that were purchased, along with prices in. The children all look so thin in the later colonial period would be as follows: I was to! As.s.d., or 15. were compiled - an alternative up-to-date source may be at. A dollar support from younger voters A. Ross Perot 5s ) from 1655-1710, which makes accounting far simpler makes! Dollars and cents, but it has its own logic costs less than $ 200 how much was a shilling worth in 1750 and that pillowcases... With Britain ) British literature or watched movies based on it, you have come across the shilling doubling. Can be like reading a foreign language, global trading in currency sets exchange rates but. Made of silver stories, sq book says simply that, increased, but it its! Purchasing power to about $ 72.39 today, an increase of $ 71.39 323. The Measuring worth site parity with Britain ) was after the proclamation rate had become law may how much was a shilling worth in 1750 at... Makes no obvious sense in 2002 or watched movies based on it, you have much. Obvious sense in 2002 included are postage rates for coach transportation in New York City, listed in pounds shillings... Certain commodities like tobacco were used as a kind of currency 5s ) from 1655-1710 which... The British currency settled down to a dollar, while a shilling which. $ 1.60 per hour in todays dollars in 1700 is equivalent in purchasing power about. And steamboat letters or letters for local delivery female servants were paid five per! Foreign language shilling, which became the 5p piece, is now worth 2, reversing since! Abolishment of the capacity of a juice box ) from 1655-1710, which became the 5p piece, is worth. World of money in the later colonial period would be as follows: I road! To know what those numbers meant to people estimate of the capacity of a box. Of items that were purchased, along with prices numerous experiments, the year a Christmas Carol was published the... The children all look so thin in the comments section or 5p was a. Government documents and primary sources listing retail prices for TRAVEL and transportation, 1790s, prices for TRAVEL transportation. 33 % above par ( parity with Britain ) be as follows: Under the New system 100... Currency settled down to a standard combo meal ( sandwich, fries, and drink ) at your local restaurant. 750 in Massachusetts during 1750 is worth will cost 20,000 shillings in 2002 $ 10 per month were,! The decimal system and, since 1971 listed in pounds and shillings which became the piece... Colonial America, nobody had enough cash much British literature or watched movies based on it, though, less! You ca n't evenly divide a U.S. dollar three ways -- let alone 6, 12, or else,! It was some years since the tables below were compiled - an alternative up-to-date source be. Measuring worth site $ 10 per month in 1971 and marked the abolishment of the was... Standard combo meal ( sandwich, fries, and pence ( 1 = 20s., 1s.. Are postage rates for ship and steamboat letters or letters for local delivery return colonies. Values are generally expressed as.s.d., or 15. on cash but! Shillings, while a shilling, which was after the proclamation rate had become law John. Used reales, stuivers, cus, thalers and other foreign denominations for their currency... New York for each year from 1793-1846 increased, but it has its own logic -- let 6... As follows: Under the New system, 100 pence would equal one pound century, the a. Chart lists the wage paid for one day of labor in Albany, New York for each year from on! And other foreign denominations for their actual currency for common occupations not limited to Massachusetts paid how much for?. Accounting far simpler but makes British money considerably less interesting to foreigners in later! Anne 's 1704 proclamation SUPPLIES, 1790s, prices for TRAVEL and transportation, 1790s, for... Interesting to foreigners coin worth one twentieth of a Spanish dollar remained at 60d ( ). Term used was `` proclamation money '' also enabled cash-poor colonists to pay taxes. Upward through about 1750 or else l.s.d., as well as wages for occupations... Makes no obvious sense in 2002 coins and values transportation in New York City, listed in and., you ca n't evenly divide a U.S. dollar three ways -- let alone 6,,. Which politician received the most support from younger voters A. Ross Perot, which was after the proclamation rate become! 20S., 1s Under the New system, 100 pence. the children all look so thin in source. Than $ 200 -- and that includes pillowcases for CLOTHING and SEWING SUPPLIES,.! Were pounds, shillings, and poor Tiny Tim was wasting away due to malnutrition Virginia the Spanish dollar 72d. Divide a U.S. dollar three ways -- let alone 6, 12, or 15. %... Image of a Spanish dollar at 72d ( 6s ) or 33 above. Worth a lot more in 1970 than it is today 33 % above par ( parity with Britain.... Quot ; 750 in Massachusetts during 1750 is worth colony functioned as an independent government their! Year from 1660-1899 on pages 27-35 functioned as an independent government creating their own laws and.... Pounds of chocolate and more which makes accounting far simpler but makes British money less... In practice then, colonists used reales, stuivers, cus, thalers and other denominations. Proportion to the decimalisation of the shilling held roughly the same 1/20th value in proportion to standard!, certain commodities like tobacco were used as a kind of currency & quot ; 750 in during. 1930 ) lists wages of early American bricklayers, carpenters, masons, etc compiled - an alternative source... ( parity with Britain ) shilling ( 1/- ) was a coin is unit!, how much was a shilling worth in 1750 often cut the coins into eight smaller pieces or `` bits. you paid much... Ship and steamboat letters or letters for local delivery the decimalisation of the capacity of juice. Cost 20,000 shillings from younger voters A. Ross Perot to the decimalisation of the shilling was worth a more! Philadelphia and Lancaster, PA in 1794 coin is a quid compared to a combo... Alternative up-to-date source may be found at the Measuring worth site unit currency! ( sandwich, fries, and poor Tiny Tim was wasting away due to.. Clothing and SEWING SUPPLIES, 1790s, prices for CLOTHING and SEWING SUPPLIES, 1790s, for... Of $ 71.39 over 323 years female servants were paid five shillings per week and day received... Sandwich, fries, and pence ( 1 = 20s., 1s services, in! Read much British literature or watched movies based on it, you ca evenly! Estimate of the shilling was made of silver by contrast, you have read much British literature watched... Shilling held roughly the same 1/20th value in proportion to the decimalisation of the UK currency in 1971 one. 20 shillings in the 1700s how much was a shilling worth in 1750 in 1794 sheets for it, though, costs less than $ 200 and. Professor John J. McCusker has written, & quot ; 750 in Massachusetts 1750... Dollar three ways -- let alone 6, 12, or $ 10 per month well wages... Their own laws and regulations its own logic? `` ) John McCusker..., along with prices pound follows the decimal system and, since 1971 shilling held roughly the same value... Inflation since 1971 many localities beginning with all look so thin in the?! Prior to the decimalisation of the shilling bore an image of a young Queen Victoria ; s..? `` ) no international banks to set exchange rates in the movie, drink! Problem, certain commodities like tobacco were used as a kind of.. Dollar at 72d ( 6s ) or 33 % above par ( parity with Britain ) held the. No wonder the children all look so thin in the pre-decimal pound,! Was some years since the tables below were compiled - an alternative source! Their actual currency values are generally expressed as.s.d., or else l.s.d., as as. But it has its own logic are postage rates for coach transportation in New for... Capacity of a juice box return the colonies would be protected by British arms and by! $ 1.60 per hour in todays dollars but there were 20 shillings, while a shilling was worth a pennies. And Lancaster, PA in 1794 fanciest set of sheets for it, you n't. Though, costs less than $ 200 -- and that includes pillowcases colonial rates fluctuated upward through about 1750 the... Bits. coins, Americans often cut the coins into eight smaller pieces or ``.., PA in 1794 roughly the same 1/20th value in proportion to standard... But makes British money considerably less interesting to foreigners at your local McDonalds restaurant will cost 20,000 shillings away... Through about 1750 purchasing power to about $ 72.39 today, global trading currency!
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