MARIA THERESA THALER.

Manawatu Standard, Volume LIII, Issue 256, 26 September 1933, Page 10

MARIA THERESA THALER.

VANISHING DEMAND IN THE EAST. VIENNA, Aug. 11. This is the first year since 1783, except for a short interval during the War, in which the Austrian Mint will not be striking Maria Theresa thalers or dollars tor currency outside Austria. As recently as 1925 the profits on the year’s delivery of this historic silver coin to North Africa and the Middle East amounted to ±144,000, and in 1927 the Mint manufactured 15,000,000 pieces. The coin, which bears always the same date, weighs 433 grains, only a trifle less than the British crown piece (430 grains), and is of .833 fineness. The shrinkage in the demand lias been partly brought about by the introduction of autonomous currencies, the latest example of which is in Saudi Arabia, the dominions of the Wahabi King. There imports of the Maria Theresa dollar have been forbidden for the last four years, and lately the coin lias been demonetised for commercial purposes. In Abyssinia it has liad to face a rather half-hearted" competition from the younger Menelek dolla.r, or Talari, and a banknote issue. East of Aden its range extends from the Persian Gulf through Afghanistan and Northern India to Mongolia,, hut there are no fresh demands from Oriental money brokers. It is believed here that only the world depression can have caused the demand for this favourite coinage to vanish altogether. Inflationary issues of paper money have enhanced the value of the coins, with the result that they are being withheld from circulation.