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These occurrences going on from the around the same time brought about a dramatic increase in the value of gold making using taxation almost hopeless for some provinces. Somebody began hoarding precious gold, pushing the brand new ratio of one’s value of copper so you can silver for the a steep refuse. From the 1630s, a set of a single thousand copper coins is well worth an ounce away from silver; from the 1640 it actually was shorter on the property value half a keen ounce; from the 1643 it was really worth approximately you to-third from an ounce.
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