Talk:Italian Somaliland rupia
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The discussion in [1] is somewhat confusing. It implies
- The Maria Theresa thaler was (officially) set at 1½ Italian lire in 1905.
- The bese was then introduced in 1909 at a rate of 1/150 thaler or 1/64 rupee.
- The bese was then switched to being 1/100 rupia in 1910.
- The exchange rate was fixed at 1 rupia = 1.68 lire until 1925.
- The final exchange rate was 8 rupia = 1 lira in 1926.
Krause Mischler and Pick agree that the rupia was decimal but do not give any exchange rates. None of the exchange rates can be arrived at by considering the silver contents of the various coins. The cross rate of 15 rupia to the British pound is what was used for the Indian rupee until 1920, indicating that the Italians weren't interested in silver.
What are we to put in this article?
Dove1950 21:15, 16 February 2006 (UTC)
- I think it's good to have at least more than 1 source when dealing with ambiguous data. For example, rupee was about half a dollar/thaler before 1920, so that 64:150 makes a lot of sense. However, the Latin Monetary Union broke down after 1920, so things are a little unclear then. (1 rupia = 1.68 lire) and (8 rupia = 1 lira) are two drastically different figures, and that's the reason why I didn't want to put any ratio in there. So, if you can find another source or to make an convincing argument, then..... --Chochopk 07:11, 17 February 2006 (UTC)
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- I haven't found another source yet but I have worked out 1.68. It's based on the gold standard. The lira was worth 9/31 g gold, whilst the rupee was worth 113/15 grains of gold. The ratio between these two is 1.68, meaning that the Italians were thinking purely in terms of gold, even though the rupia was a silver coin.
Dove1950 17:50, 18 February 2006 (UTC)
- I haven't found another source yet but I have worked out 1.68. It's based on the gold standard. The lira was worth 9/31 g gold, whilst the rupee was worth 113/15 grains of gold. The ratio between these two is 1.68, meaning that the Italians were thinking purely in terms of gold, even though the rupia was a silver coin.
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- The following page [2] gives the exchange rate as 1 rupia = 8 lire, i.e., the opposite of that given by [3]. It seems to me that the initial rate, when both the Italian lira and Indian rupee were on the gold standard, was 1.68:1, as discussed above. When Italy and India went of the gold standard, the lira fell much more than the Indian rupee and presumably also fell relative to the rupia, giving rise to the exchange rate of 8:1 in 1925. [4] also indicates that the currency was decimal from the start.
Dove1950 14:32, 17 April 2006 (UTC)
- The following page [2] gives the exchange rate as 1 rupia = 8 lire, i.e., the opposite of that given by [3]. It seems to me that the initial rate, when both the Italian lira and Indian rupee were on the gold standard, was 1.68:1, as discussed above. When Italy and India went of the gold standard, the lira fell much more than the Indian rupee and presumably also fell relative to the rupia, giving rise to the exchange rate of 8:1 in 1925. [4] also indicates that the currency was decimal from the start.
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Based largely on what's in [5], I've rewritten parts of this page along with tidying it up. I've removed the exchange rate to the MT Thaler as this is unclear to say the least but put in the conversion rate to the lira when the rupia was withdrawn as this seems settled. Comments and correction welcomed, as always.
Dove1950 21:56, 26 April 2007 (UTC)
- I restore the 1 rupia = 32/75 thaler per the second bullet point. In addition, this ratio is in somewhat agreement with the precious metal amount listed at User:Chochopk/Latin Monetary Union unit. --ChoChoPK (球球PK) (talk | contrib) 00:48, 13 May 2007 (UTC)
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- I'm not sure that exchange rate can be substantiated. It's based on the line "The bese was then introduced in 1909 at a rate of 1/150 thaler or 1/64 rupee." but it disagrees with the exact ratio based on the silver contents. By all means leave it in for now but we really need more evidence.
Dove1950 16:09, 13 May 2007 (UTC)
- I'm not sure that exchange rate can be substantiated. It's based on the line "The bese was then introduced in 1909 at a rate of 1/150 thaler or 1/64 rupee." but it disagrees with the exact ratio based on the silver contents. By all means leave it in for now but we really need more evidence.
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- There are quite a few instances where we quote a ratio by one reference. And in the early 20th century, exchange rate didn't always follow precious metal precisely. According to Latin Monetary Union, US$1 = 5 FRF. But my table shows 5.7622 by silver coins and 5.1832 by gold coins, and exactly 5 if you use the wacky 5 Italian lira coin. --ChoChoPK (球球PK) (talk | contrib) 08:27, 14 May 2007 (UTC)
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- I'm afraid you quote a bad example. The stella was never issued for circulation. It would have required a redefinition of the US gold standard which never happened. Plus, there was nothing "whacky" about the Italian silver 5 lire. The French, Belgian and Swiss 5 francs and the Spanish 5 pesetas were all the same size and composition (25g, .900 Ag). I'm not against a single reference per se, it's just that I'm worried this one may be wrong, given the degree of confusion. We don't know whether silver, gold, both or neither dictated the exchange rates and that really needs clearing up. As I said, leave it in for now but more work is definitely needed.
Dove1950 11:52, 14 May 2007 (UTC)
- I'm afraid you quote a bad example. The stella was never issued for circulation. It would have required a redefinition of the US gold standard which never happened. Plus, there was nothing "whacky" about the Italian silver 5 lire. The French, Belgian and Swiss 5 francs and the Spanish 5 pesetas were all the same size and composition (25g, .900 Ag). I'm not against a single reference per se, it's just that I'm worried this one may be wrong, given the degree of confusion. We don't know whether silver, gold, both or neither dictated the exchange rates and that really needs clearing up. As I said, leave it in for now but more work is definitely needed.
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