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Spare Change?

19 Wednesday Apr 2017

Posted by Ollamh in Economics in Middle-earth, J.R.R. Tolkien, Literary History, Narrative Methods

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1909 penny, Abraham Lincoln, Alexander the Great, Aragorn, Asia Minor, Augustus, bartering, Bilbo's birthday, British Royal Government, Brutus, Charlemagne, Classical Greek coins, Cleopatra VII, Coinage, daggers, Denethor, Domitian, Egypt, federal law, Frankish king, freedman, George Washington, Gondor, Greek Kings, Hanoverian kings, Hellenistic Greeks, Holy Roman Emperor, Ides of March, Julio-Claudian dynasty, Julius Caesar, libertus, Lucius Plaetorius Cestianus, Lydia, manumission, Middle-earth, Pennies, pilleum, Plebeians, portrait, Prince Charles, Ptolemy I, Queen Elizabeth II, Roman Empire, Romans, Seleucus, Senatus Consulto, The Lord of the Rings, Tolkien

Welcome, dear readers, as always.

We are veering a little to the left in this posting inspired by a comment on “Shire Portrait (2)” from our good friend, EMH. It was about currency and coins in Middle-earth and we were a little vague, but E pointed out:

  1. Bilbo giving “a few pennies away” before the party
  2. the price of Bill, the pony: “twelve silver pennies”
  3. Gandalf praising Barliman and saying his news was “worth a gold piece at the least.”

With E in mind, we decided to do another posting on M-e money. Long ago, we did a posting on imagined currency in Middle-earth, but, since then, we’ve thought a bit more about the subject, and, right now, dear readers, we ask you to produce a coin, any coin. As we live in the US, here’s a US coin, a fourth of a dollar, hence, a “quarter”.

image1quarterobverse.jpg

This is the front, or “obverse” in coin speech, and we’re going to focus on that and not on the back (the “reverse”).  We use coins all day long every day, so we probably don’t look at them more than to note value when we pay for something or receive change, but let’s look at this one a bit more closely.

It seems pretty simple:

  1. at the top a single word, “Liberty”
  2. then a low relief (that is, cut very shallowly) portrait of the first president, General George Washington
  3. then, to the left, a slogan, “In God We Trust”
  4. at the bottom, the date, 1993

Let’s start with that date—1993. In 1993, the president was Bill Clinton.

image2clinton.jpg

Federal law, however, prevents coins—with very special and rare exceptions—to bear the portraits of living people. The first president on a coin was Abraham Lincoln, on a penny first minted to commemorate his 100th birthday, in 1909.

image31909penny.jpg

The previous coin, up to 1909, had the idealized head of a Native American,

image41908indianhead.JPG

the pattern for which was first introduced in 1859.

image51859indianhead.jpg

The first coin in western European history is from the late 8th century BC, and comes from Lydia, in Asia Minor.

image6lydiancoin.jpg

Classical Greek coins seem to model themselves on Lydian coins like this, having badges–city emblems and religious tokens, like the famous Athenian owl, rather than portraits of humans, like that quarter with George Washington on it.

image7owlcoin.jpg

During the Hellenistic Period (post about 300bc and on), however, the Greek kings, from Greece to Asia Minor to Egypt, all began to issue coins with portraits of themselves. These were, initially, the generals of Alexander the Great, who, at Alexander’s death, had grabbed portions of his empire for themselves. We think of Seleucus, who controlled much of Asia Minor

image8seleucus.jpg

Or of Ptolemy I,

image9ptolemy1.JPG

the founder of a dynasty which ruled Egypt for nearly 300 years until their final descendant, Cleopatra VII, was defeated by the Romans.

image10cleopatravii.jpg

Those Romans, we imagine inspired by the Hellenistic Greeks, produced coins by the bushel .(this is an obsolete dry measurement, based upon what you can put into a basket like this:

image11bushelbasket.jpg

which was, in fact, made up of four pecks

image12peck.jpg

which could also be divided into two kennings of two pecks apiece.)

Considering that Rome produced coins from the late 4th century bc to late in the 5th century ad, it’s not surprising that there would be so many—and considering the size of the Roman empire, as well.

image13coins.jpg

Earlier Roman coins had been unlike Hellenistic coins, however, in not depicting living people—that is, until Julius Caesar gained power.

image14jc.jpg

This opened the floodgates and it’s easy to see why.

Coins are short-hand wealth, originally standing in for earlier barter items, like flocks and herds.

image15cattle.jpg

As Romans spread out beyond farms and local markets, the wealth in animals and agricultural produce, as well as raw materials, was simply not portable enough, as this cartoon shows.

image16barter.jpg

By making tokens which were accepted as a stand- in for that wealth, the agency which did so was asserting its claim to have a strong hand in, if not control of, the economy.

Julius Caesar, who had already forced the Senate to make him “Dictator for Life” (that “S…C” on both sides of his profile stands for “Senatus Consulto”—“by a decree of the Senate”), by putting his face on the currency is implying that he now is the state—and therefore possesses a power which extends to regulating the money economy by which people live and survive or prosper. (There may be a quiet joke here, as well. “SC” was stamped on bronze coins to guarantee their worth—on the back side—to have those letters surrounding Caesar on the front side, the obverse, may suggest a double meaning: he is dictator by Senatorial decree, but his worth is also being guaranteed by that decree.)

It is no surprise, then, that Brutus, one of those who murdered Caesar, would, in turn, issue his own coins—and these are even more heavily symbolic.

image17brutuscoin.png

On the obverse, there is Brutus, his name above, to our right his title “imp[erator]”—a title given to a general by his soldiers with the implication “You rule!” To our left is an abbreviated form of the name of the moneyer, the man who directed the mint, L[ucius] Plaet[orius] Cest[ianus]. Although we said that we would only examine obverses, we can’t resist the reverse here. At the bottom is the inscription, “eid mar”, standing for “eides Martis”, the “Ides of March”, the 15th of March, the day Caesar was murdered. Above that is a “pilleum”, the kind of cap worn by a slave during the ceremony called “manumission”, in which a he was turned into a “libertus”, or “freedman”.

image18manumission.jpg

To both sides of the cap are daggers.

image19pugio.jpg

Put all of this together and we see Brutus’ claim: on the 15th of March, we murdered Caesar and, as a consequence, we freed Rome from its slavery.

Coins like Caesar’s and Brutus’ are simple in their claims. Later emperors were less so. Look at this coin of Domitian (81-96ad).

image20domitian.jpg

On the rim of the obverse is a pile of information:

Imp[erator] Caes[ar] Domit[ianus] Aug[ustus] Germ[anicus] P[ontifex] M[aximus] Tr[ibunicia P[otestas] VIII

“Emperor Caesar Domitianus Augustus Germanicus, Chief Priest of Rome, Holding the Power of the Representative of the People 8 Times”

In fact, Domitian was sailing under false colors—Caesar, Augustus, and Germanicus all belong to the earlier Julio-Claudian dynasty, of which his family was not a part. As for “Holding the Power of the Representative of the People”, this was an ancient elective office, which allowed a member of the lower class, the Plebeians, special powers in the legislative process. As emperor and son of an emperor most of a century after elections had been abolished, this looked like an honor, but was just an empty title. “Chief Priest” had once been an extremely important position in the state, but, from the time of the first emperor, Augustus, it had simply become another title emperors claimed.

Later European rulers, eager to suggest that they were as powerful as the ancient Romans, used Roman coins as a model. Here’s one from Charlemagne, Frankish king and first Holy Roman Emperor (768-814).

image21charlemagne.jpg

Returning to our George Washington quarter,

image22gw.jpg

let’s look at the comparatively meager inscriptional material. If the coin of Domitian had so much to tell us about how important he was, the inscription on the quarter has a very different message, its focus being upon cultural values: 1.freedom; 2. religion. In our culture, probably everyone would agree with 1, but our ancestor/founders were very adamant on the subject of keeping church and state completely apart, with no influence of either upon the either, so that that 2, “In God We Trust”, shows that there is some confusion about those values. In any case, the plainness might remind us of Caesar’s coin more than Domitian’s, but, in both cases, the point of the artwork and labeling is to put the government’s stamp, whether republic or empire, upon the everyday life of everyone who buys and sells.

There is another message to be read here, as well. The George Washington quarter was first issued on Washington’s 200th birthday, in 1932, and is still on the obverse of the quarter, suggesting the continuity of what he stood for. In the case of monarchs, however, each new emperor/king/queen demands the issuing of new coinage, with the new ruler’s portrait, suggesting not only royal government continuity, but also, in some cases royal family continuity. Here are the first four Hanoverian kings of England, for example, all sons or grandsons, from 1714 to 1830.

image23geo1.jpg

image24geo2.jpg

 

image25geo3.jpg

image26geo4.jpgSo, When Prince Charles succeeds his mother, Elizabeth II,

image27liz2.jpg

new coins will have to be minted.

And this brings us back to Middle-earth and to a puzzle about Gondor. There are certainly coins, as our good friend has thoughtfully pointed out. There has been no king on the throne of Gondor for many centuries, however. If Denethor’s behavior is anything to go by, the Stewards have become kings in everything but title, even though Denethor avoids the royal throne. If everyone from the Hellenistic kings to Elizabeth II has his/her portrait on the coinage, are the Stewards on Gondor’s? And what happens when Aragorn becomes King Aragorn II Elessar?

MTCIDC

CD

It Will Have To Be Paid For!

12 Wednesday Aug 2015

Posted by Ollamh in Economics in Middle-earth, J.R.R. Tolkien, Maps

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Tags

Asia Minor, Bilbo, Bronze, Chinese, Coinage, Currency, Deagol, Egyptians, Germanic, Gondor, Greeks, Isengard, Italy, Middle-earth, Moria, Pennies, Rohan, Roman Coins, Roman Roads, Romans, Saruman, Shire, Silver, Smeagol, Sumerians, Theodric, Tolkien, Trade, Treasure

Dear Readers,

Welcome, as always!

We recently wrote about Saruman and his pipeweed trade along the North-South and Great East Roads, and concluded that those roads reminded us of Roman Roads.  Looking at road networks from both Rome and Middle-earth, we see both as just that, networks, lines of communication which travel to and from central points.

roman-empire-roads-map9

middle-earth-map-roads

The roads of Middle-earth don’t appear to be so elaborately constructed and paved, of course, but then, at least for many centuries before The Lord of the Rings, there had been no central authority to maintain the system.

Roman Road

Although the idea of a Roman road—especially one that is incomplete or ruinous–

roman-road-bainbridge-geograph-e1400883247896

gives us a similar image.

But there’s still something missing—Saruman has roads and connections, but how would he have paid for the pipeweed? He could have used a barter system, although that would mean understanding what it would be that he might use—raw material from the mountains? Some sort of manufactured goods made at Isengard? This could certainly be so, if we’re thinking of Middle-earth as a place set in pre-currency times, such as the Sumerians and the Egyptians, who managed their extensive trade just fine without a single coin.

Grain-Goddess-small MonetaryEgyptian

And we could just leave it at that, but then there’s a clue in the first chapter of The Fellowship of the Ring which suggests that the actual commercial system is based upon currency.

“When the old man, helped by Bilbo and some dwarves, had finished unloading, Bilbo gave a few pennies away…” LOTR 25

Bilbo is rumored to have treasure hidden away in his hobbit-hole, with much speculation from all,

“’There’s a tidy bit of money tucked away up there, I hear tell,’ said a stranger… ‘All the top of your hill is full of tunnels packed with chests of gold and silver…’” LOTR 23

And the Shire isn’t the only place where pennies are used—when Sam wants to purchase Bill the pony in Bree,

“Bill Ferny’s price was twelve silver pennies; and that was indeed at least three times the pony’s value in those parts.” LOTR 175

This indicates a standard value based upon that currency, which one assumes was universal (with a tone in the text which implies that everyone might share that opinion), and old enough that it was the accepted modus for buying and selling. As Tolkien himself once wrote:

“I am not incapable or unaware of economic thought; and I think as far as the ‘mortals’ go, Men, Hobbits, and Dwarfs, that the situations are so devised that economic likelihood is there and can be worked out…” LT, L.154 P.196.

Thus, although he was clearly aware of such economic transactions, he didn’t need them for a plot and Merry and Pippin’s food and drink–and smoke–are simply there–with the implication that Saruman’s reach is longer than anyone has assumed.

In fact, there are very few scenes where money is needed at all—the Prancing Pony is the only inn they come across on the road, and the Fellowship otherwise camps out until they are taken in at Lorien, Edoras, and Gondor, and a guest/host relationship becomes a major part of the story. We’ve actually even seen this sort of thing near the very beginning of the story, when Frodo becomes Elf-friend to Gildor, and is awarded provisions (and a hearty breakfast) for their journey. 

We have only a little knowledge of the commercial world of Middle Earth, as you can see, and no description of “pennies”, except that some are silver.  What might they have looked like?  In our earlier essays, we’ve used parallels from the history of our earth, just as JRRT might used road systems which could easily have been influenced by the Roman roads which once connected so much of Britain, to build the roads in Middle-earth. Some of those Roman roads, even in his time, were still visible–some even still used (although usually paved over).

2000px-Roman_Roads_in_Britannia.svgRomanRoadBritain2

Using our parallel method, we turn to Roman coinage.

RomanSilverPenny

We’re dealing with silver coinage in northwest Middle-earth, where Saruman’s imports come from, and if we’re thinking about Rome, we’d be looking at a time where coinage had already existed. We have no idea when coins were first issued in Middle Earth–considering how complexly organized the North and South Kingdoms had been for many centuries, we would imagine that a thousand years before the events of The Lord of the Rings  probably wouldn’t be too soon.  We have a small piece of evidence from some five hundred years before, when Deagol says to Smeagol:

“’I don’t care,’ said Déagol, ‘I have given you a present already, more than I could afford.’” LOTR, 52

In Rome, silver coinage was introduced in 269 BC, courtesy of the Greeks, after the Romans had been using bronze.

RomanBronzeCoin

Coins originated in Asia Minor in the 6th c. BC and quickly caught on, being a convenient and highly portable way of transporting wealth—it was much easier to carry and design to designate between currencies, and the Chinese even began to manufacture coins which could be strung together.

ChineseCoin

In Middle-earth, this would make it easier to trade beyond the borders of a local market, or even the Shire–and would certainly have been accepted at The Prancing Pony.

All of this leads, however, to Questions for Further Study, as textbooks often say.  Currency needs backing—the Roman republic and then the empire backed Roman coins.  What backed those pennies in the Shire and beyond?Imagine that, in Middle-earth, the major legitimate government was Gondor—would these pennies have been originally Gondor-issued? If so, perhaps just what happened to Roman currency in late imperial times might have happened in Middle-earth—as Rome began to fall apart, semi-independent governments began to issue coins on their own, such as Theodric, the Germanic ruler of Northeastern Italy:

Theodorictriplesolidus_zps7dc7f768

Visually, they remind us–and they were certainly intended to–of imperial coins, with their images of Roman emperors.  Theodoric, even with his unusual hairstyle, meant to be seen as a new ruler for an old Rome.  Can we imagine dwarf coins, perhaps issued from the Moria mint?  And, when we remember that Mordor has tried to acquire horses from Rohan, what would Mordorian currency have looked like? And, returning to Saruman for a final time—if he paid for pipeweed in coins, did they bear a white hand?

Thanks, as ever, for reading,

MTCIDC,

CD

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