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Changes in the Silver-Coin Exchange rate in the 18th century, and Its meaning
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18세기 은전비가(銀錢比價)의 변동과 의미

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Type
Academic journal
Author
Yoo, Hyun-jae (서울대학교)
Journal
The Organization Of Korean Historians YŎKSA WA HYŎNSIL : Quarterly Review of Korean History No.97 KCI Accredited Journals
Published
2015.9
Pages
265 - 294 (30page)

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Changes in the Silver-Coin Exchange rate in the 18th century, and Its meaning
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Examined in this article is the fact that Sangpyeong Tongbo, the Joseon coin, was devised and circulated by the Joseon government in the dynasty’s second half, as the government needed those coins for some fiscal reasons. Compared to Chinese and Japanese cases, in which coins were created and circulated in an environment quite similar to the Joseon case, the Joseon government’s coin policy seems to have displayed characteristics of its own. Particularly noticed is the fact that the value of a coin, represented in silver, varied in all three countries.
Joseon and China imported raw materials, needed for coin production, from Japan. Circumstances surrounding coin production in both countries seem to have been quite similar. All coins, regardless of the country that produced them, harbored the same value which was recognized with the same amount of silver, as long as they were created with raw material (imported from Japan) which had the same price and were produced under similar circumstances. But in the Joseon case, initially there were some differences, from their Chinese and Japanese counterparts. The Joseon government modified the price of the coin as they saw fit, in order to secure a needed amount of profit margin (seigniorage) and sometimes even maximize it. This was a risky choice on the government’s part considering the delicate nature of currency circulation. The Joseon government decided to do so nonetheless, but this artificial devaluation policy failed to produce an outcome that would last as much as the government had hoped for.
#왜동 #은전비가 #상평통보 #주전책 #Japanese bronze(倭銅) #exchange rate between Silver and Coins(銀錢比價) #Sangpyeong Tongbo(常平通寶) #policy of creating coins(鑄錢策)

Contents

머리말
1. 상평통보(常平通寶)의 원료 확보
2. 구리 가격의 형성
3. 은전비가(銀錢比價)의 변동과 주전이익
맺음말
참고문헌
〈Abstract〉

References (14)

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[단행본] - 송찬식 / 1975 / 이조의 화폐 / 한국일보사 google schola [보고서] - 원유한 / 1975 / 조선후기 화폐사연구 google schola [학위논문] - Innes / 1980 / The door ajar: Japan’s foreign trade in the seventeenth century / 박사 / Michigan University google schola [단행본] - Ryuto shimada / 2002 / The Intra－Asian trade in Japanese copper by the Dutch East India company during the eightenth century / Brill google schola [단행본] - Thomas Hirzel / 2006 / Metals, Monies, and Markets in Early Modern Societies: East Asian and Global Perspectives / Lit google schola

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