ABSTRACT
Sources: CHALMERS [1893], p. 233 (1811-1814); PRO London, CO 53: Blue Books of the Colony of the Cape of Good Hope, vols. 60-62, 93-144 (1822/24, 1856-1907); Cape of Good Hope and Port Natal Shipping and Mercantile Gazette (1844-1855); The Economist, London (1908-1914). Concordance: WdW VIII, pp. 75-95
Currency at Cape Town: Until the British conquest of the Cape Colony, the Dutch monetary system had been a determining influence in Southern Africa because of the government of the Dutch East India Company (VOC). The rixdollar (rijksdaalder) of 8 shillings or 48 stuivers and the guilder of 20 stuivers were the units of account, although the VOC had been issuing rixdollar paper currency, the so-called Cape-Dutch current, for the Cape Colony since 1781/82. In 1795, when the British conquered the Cape Colony for the first time, this paper money was quoted at 20-30% discount (CHALMERS [1893], p. 231). Under the British administration the issuing of paper money following the Dutch example continued, although the pound sterling of 20 shillings at 12 pence was introduced as official unit of payment and account (see pp. 3-5). Since the renewed Dutch occupation of the colony (from 1803 to 1806), the monetary system of the colony was destroyed: bills on Holland were quoted with a premium of 160%, the rixdollar Cape-Dutch current dropped from 4 shillings (in 1795) down to 1½ shillings. Despite the attempts at stabilizing the monetary system when Great Britain finally reconquered the Cape Colony after 1806, there was a further drastic devaluation of the currency after 1810, caused by additional extensive issues of paper money the Government Bank had carried out (PENNINGTON [1848], pp. 148f.; CHALMERS [1893], pp. 231-234).
