Playing cards as money
You’ve probably heard of sea shells being used as money, or perhaps elephant hair, cigarettes or nails. In Canada, playing cards were used as form of emergency money at a time when the colony constantly suffered from a shortage of hard currency—that is, gold and silver coins.
During an acute coin shortage in 1685, the Intendant of New France, Jacques de Meulles (that’s the guy who oversaw the colony’s finances), resorted to issuing playing cards to pay the troops who were stationed throughout the colony safeguarding the fur trade. Why use playing cards? It had nothing to do with the value or the suit; a jack of hearts was not worth more than a 3 of spades. Rather, playing cards back then were rigid, made of stiffer cardstock and perfect for the rigours of circulation. They were plentiful and easy to obtain. And the backs were plain, which was ideal for writing a value and for officials, including the Intendant, the Governor and the Controller of the Marine, to sign their names. To make it easier to identify the different values, the cards were cut into different shapes. Merchants were encouraged to accept the playing cards as payment with the promise that they would be exchanged for gold and silver coins when a fresh shipment arrived from France.
To keep things quiet from the King of France, who alone held the authority to issue currency, Intendant de Meulles issued the playing cards on his own account with the full intention of redeeming and then destroying them. It was supposed to be a one-shot deal. Yet frequent shortages of coins, sometimes because the ship carrying coins would sink to the bottom of the ocean on its journey to Canada, led to repeated issues of playing card money. After a few years of continued coin shortages and no proper access to other cheap methods of financing, playing card money remained in circulation. By 1717, the issue of playing cards got so out of hand that the King passed a law banning all playing card money. However, he forced the redemption of it at only half of its face value. The estimated 960,000 livres (the currency unit in use in Canada at the time) of playing cards in circulation was finally liquidated and a total of 360,000 livres was paid out. Its devaluation wasn’t a result of the amount of playing card money in circulation, but because there were simply not enough funds in government coffers to redeem them.
Thus in 1720, the first episode of playing card money ended. Another appeared in 1729 after the debacle of John Law and his attempt to establish a central bank in France, leaving the country’s finances in tatters. But that’s another story, with, unfortunately, the same outcome.
Happy playing card day!
The Museum Blog
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For much of their history, Canadian bank notes have represented a promise, a guarantee that they could be redeemed for “specie” (gold and silver coins) at their parent institution.
Becoming a Collector V
By: Graham Iddon
Suppose you walk into a bar frequented by currency collectors and in an attempt to join in you refer to a ‘planchette’ as a ‘rosette’ (beer mugs hit the tables and the pianist stops playing). This could be pretty humiliating and you’ll probably never be able to go to that bar again, at least not on numismatic night.
Becoming a Collector IV
By: Graham Iddon
Now that you have a grasp of preservation techniques for coins, you might want to familiarize yourself with the finer points of their anatomy. It is all part of your numismatic education and besides, you need to be informed and sound informed when you are buying coins at flea markets or coin fairs.
Museum Reconstruction - Part 3
By: Graham Iddon
Though naturally we are aware that the former Museum space is being gutted, the reality of seeing it empty is still pretty strange for most of us here. In the last blog of this series we showed you the empty cafeteria space that will become the new Museum, as well as some images of the old Museum as it was at the time: stuffed with odds and ends of exhibit cases, the occasional display still on the walls.
CENTimental Journey
By: Graham Iddon
With all the blogging we’ve been doing for Voices from the Engraver, you’d think we had nothing else on our exhibition plate. We do, actually, and it’s called CENTimental Journey. This temporary exhibition, hosted at the Canadian Museum of History, walks you through more than 150 years of the Canadian 1 cent piece.