The Sterling Crisis of 1337–1339*

Edward Ames

The Journal of Economic History, 1965, vol. 25, issue 4, 496-522

Abstract: The sterling crisis of 1337–1339 is interesting for two reasons. First, it seems to be the earliest such crisis for which detailed analysis is possible. Second, the details of this crisis, when compared to those pertaining to the 1340's, offer what might be called a “textbook example” of the differences between non-convertible and convertible foreign exchange systems.

Date: 1965
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