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Full Description
The monetary history of a country provides important insights into its economic development, as well as its political and social history. This book is the first detailed study of Iran's monetary history from the advent of the Safavid dynasty in 1501 to the end of Qajar rule in 1925. Using an array of previously unpublished sources in ten languages, the authors consider the specific monetary conditions in Iran's modern history, covering the use of ready money and its circulation, the changing conditions of the country's mints and the role of the state in managing money. Throughout the book, the authors also consider the larger regional and global economic context within which the Iranian economy operated. As the first study of Iran's monetary history, this book will be essential reading for researchers of Iranian and economic history.
Contents
Introduction
Chapter One: The Monetary System during the Safavid Period: Money, Metals and
Minting
Introduction
II. Limits on the Use of Money and the Scarcity of Current Coin
Scarcity of Current Coin
Minting Coins
i Mints
ii Technical Process
iii Gold
iv copper
v Silver
vi Local Currency Systems
VI. Arbitrage
Chapter Two: The Trade in Bullion in Safavid Times
I. Introduction
II. Government Policy until 1669
III. Restrictive Measures in the Period 1669-1684
IV. Developments after 1684
Chapter Three: The Politics of Minting
Introduction
Weight Reductions
Monetary Matters under Shah Sulayman
The Monetary Crisis of 1684-85
Developments after 1685
Chapter Four: The Monetary System under the Afsharids and Zands, 1732-1794.
The Age of Copper
Introduction
Ghilzay Afghan Period (1722-1729)
Last Safavids (1722-1736)
Afsharid period (1736-1750)
Afsharid Successors (1747-1750)
Zand Period (1759-1794)
Chapter Five. The Monetary System under the Qajars, 1779-1925
I. Minting Coins
A. Traditional Mints
i. Running the mints
ii. The production process
B. Reducing the Metal Content of Coins
C. A Modern National Mint
II. Fragmented Currency System
i. Overview: Measuring Value in a Three-Metal System
ii. Local Currencies Other than the National Standard
iii. Copper Coins
iv. Silver Coins
v. Gold Coins
vi. Limited Use of Money in Trade
III. Supply of Bullion and Specie
i. Local Production of Bullion
ii. Importing Bullion
IV. Silver's Loss of Value
i. Adjusting Ratios among Coins
ii. Switching to a Gold Standard?
V. Paper Currency
i. IBP's Practices
ii. Limits to Acceptance of Paper Currency
VI. Money at the End of the Qajar Dynasty
Afterword
Bibliography
Index
