TY - JOUR
T1 - Discourses on outdated but still valid currencies in Israel, from the Egyptian withdrawal in 1841 to 2023
AU - Nadan, Amos
N1 - Publisher Copyright:
© 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.
PY - 2023
Y1 - 2023
N2 - When reading texts mentioning past currencies, especially those that were in use in Ottoman and British Palestine and the first decade of the State of Israel, historians often remain puzzled as to the relative value of former legal tenders in particular historical periods (i.e. what a specific sum of money could buy), and more so how to interpret the value of specific currencies between these and later periods. Such an interpretation is not only the interest of historians, because there is a practical need to verify sums in obsolete currencies, such as in agreements and laws, in today’s money. Few experts are able to make even an inexact linkage from the Mandate period to present day Israel, while linkage from the Ottoman period remains too vague. The main aim of this article is to improve this situation by using applied history, to propose some rules of thumb for understanding the magnitude of such currencies, according to market values and/or laws, and to provide a provisional tool for linkage of former legal tenders–Ottoman Liras, Egyptian Pounds, British Pounds, Palestinian Pounds, Israeli Liras and old Shekels–to present monetary values.
AB - When reading texts mentioning past currencies, especially those that were in use in Ottoman and British Palestine and the first decade of the State of Israel, historians often remain puzzled as to the relative value of former legal tenders in particular historical periods (i.e. what a specific sum of money could buy), and more so how to interpret the value of specific currencies between these and later periods. Such an interpretation is not only the interest of historians, because there is a practical need to verify sums in obsolete currencies, such as in agreements and laws, in today’s money. Few experts are able to make even an inexact linkage from the Mandate period to present day Israel, while linkage from the Ottoman period remains too vague. The main aim of this article is to improve this situation by using applied history, to propose some rules of thumb for understanding the magnitude of such currencies, according to market values and/or laws, and to provide a provisional tool for linkage of former legal tenders–Ottoman Liras, Egyptian Pounds, British Pounds, Palestinian Pounds, Israeli Liras and old Shekels–to present monetary values.
KW - fiat money
KW - gold commodity money
KW - Israeli Pounds
KW - Linkage
KW - NIS
KW - Ottoman Liras
KW - Palestinian Pounds
KW - Shekel
UR - http://www.scopus.com/inward/record.url?scp=85171564228&partnerID=8YFLogxK
U2 - 10.1080/00263206.2023.2237416
DO - 10.1080/00263206.2023.2237416
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AN - SCOPUS:85171564228
SN - 0026-3206
JO - Middle Eastern Studies
JF - Middle Eastern Studies
ER -