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The Problem of the Maria Theresa Thaler in the Colony of Eritrea: A Reinterpretation through Institutionalist Monetary Theories

Author

Listed:
  • Laura Bonino

    (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique, Atelier François Simiand/Equipe CRH - AFS-CRH - EHESS - École des hautes études en sciences sociales)

Abstract

This paper employs institutionalist theories of money to explore a chapter of the monetary history of the Italian colony of Eritrea. The aim is to provide a complementary perspective in the historical analysis of the link between power and money, which is particularly relevant in making new monetary systems in colonial empires. The analysis focuses on a silver coin minted in the Habsburg dominions from the mid-18th century, known as the Maria Theresa thaler, that began circulating in the territories bordering the Red Sea from the early 19th century. This article shows that the attempts of the Italian imperial power to reform Eritrea's monetary system repeatedly failed because the colonized population always preferred the Austrian thaler over the new Italian coins.

Suggested Citation

  • Laura Bonino, 2024. "The Problem of the Maria Theresa Thaler in the Colony of Eritrea: A Reinterpretation through Institutionalist Monetary Theories," Working Papers hal-04798440, HAL.
    • Handle: RePEc:hal:wpaper:hal-04798440
    Note: View the original document on HAL open archive server: https://hal.science/hal-04798440v1
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