The guilder or fl. was the currency of the Netherlands from the 15th century until 2002, when it was replaced by the euro. The Dutch name gulden was a Middle Dutch adjective meaning "golden", and reflects the fact that, when first introduced in 1434, its value was about par to the Italian gold florin. The Dutch guilder was a de facto reserve currency in Europe in 17th and 18th centuries. Between 1999 and 2002, the guilder was officially a "national subunit" of the euro. However, physical payment
1917 Netherlands Wilhelmina I Silver 25 Cents. In 1817, the first coins of the decimal currency were issued, the copper 1 cent and silver 3 guilder. The remaining denominations were introduced in 1818. These were copper ½ cent, silver 5, 10 and 25 cents, ½ and 1 guilder, and gold 10 guilder. In 1826, gold 5 guilder coins were introduced.
- KM# 146
- Wilhelmina I
- 25 Cents
- Netherlands Wilhelmina I Silver 25 Cents
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The Gulden, which is also known as the Florin or Guilder, was the national currency of Netherlands until 2002, when it was replaced by the Euro. This 1917 Netherlands 10 Gulden coin was struck from 0.1947 Troy oz. of .900 fine gold, measuring 22.5mm in diameter with a reeded edge, and a reported final mintage of 4,000,000. Queen of the Netherlands
- Royal Dutch Mint
The Netherlands gained independence from Spain as a result of the Eighty Years' War, during which the Dutch Republic was founded. As the Netherlands was a republic, it was largely governed by an aristocracy of city-merchants called the regents, rather than by a king. Every city and province had its own government and laws, and a large degree of ...
War conditions disrupted the Netherlands' food imports and caused shortages. From 3 July 1917, authorities in Amsterdam held back the potato supply until there was enough to feed the whole city. This led to a large riot and looting of stores and markets. Rioters broke into warehouses and took potatoes intended to be exported to England.
The One guilder coin was a coin struck in the Kingdom of the Netherlands between 1818 and 2001. It remained in circulation until 2002 when the guilder currency was replaced by the euro. No guilder coins were minted in the German occupation of the Netherlands in World War II. All of them featured the reigning monarch on the obverse, and until Queen Beatrix in 1982, the national Coat of Arms on the reverse. At the time of its demonetisation, the guilder was the third-highest denomination coin in t
The one-cent coin was a coin struck in the Kingdom of the Netherlands between 1817 and 1980. The coin was worth 1 cent or 1⁄100 of a Dutch guilder.
- Dutch Openness and Dependency↑
- New Production↑
- Structural Change↑
- Post-War Consequences↑
At least until 1940, when German troops attacked Western Europe once again, Berlin’s 1914 decision to ignore Belgium’s neutrality and honour that of its similarly small northern neighbour, had massive consequences for both countries. In Belgium it is generally believed that the Netherlands profited from the war, while many Dutch are barely aware of the impact of the First World War. Indeed, the Dutch economy did benefit from the war. Nonetheless, during the last years of the conflict, Wilhelmina, Queen of the Netherlands (1880-1962) often had to rush along a crowd of protesters crying out, “Hunger, Hunger!”The topic of this paper is Dutch wartime economic development and its consequences. It questions how the Netherlands, whose economy was more open than any other, improved its position.
By 1885, the 19th century’s canalization of the Rhine was almost complete. Over the next thirty years, the scale of steam-tugged trains of barges increased constantly. Consequently, freight rates dropped 80 percent while rail tariffs remained stable. This suited perfectly the increasing demand for transport in the industrial heart of Western Europe, the Ruhr. There, just across the border from the Netherlands, technical developments demanded ever more ore, coal, and foodstuffs. As transport via Rhine barges was the cheapest option, the port at the Rhine estuary, Rotterdam, became essential for German industry. In the years before 1914, almost a quarter of all German trade crossed the German-Dutch border via the Rhine and a statistically significant relationship developed between barge compared with rail tariffs and the Rhine’s share in total transport. The same is true for Rhine transportand transhipment in Rotterdam. Dependence was strengthened as almost all coal used in the Nether...
As a substantial part of German trade went through the Netherlands, in 1909, after the Declaration of London was signed, Helmuth von Moltke (1848-1916), Chief of the German General Staff, decided to keep the Dutch out of any European conflict. According to the Declaration, in times of war trade would go on. Neutral ships only had to hand over their cargo if it was explicitly directed to inimical armed forces. As it was allowed neither to block a neutral port, nor to intercept vessels carrying cargo not explicitly sent to inimical forces, Germany could rely on the continuation of Dutch transit. The Act of Mannheim of 1868 assured free Rhine navigation. Therefore, goods reaching Rotterdam could continue on to Germany. Already in 1909, Moltke wrote that after a German attack on France through Belgium, Britain would use the violation of Belgium’s neutrality as an argument to enter a war. Hence, without losing trustworthiness, London could not attack another small country. Therefore, if...
From August 1914, the Dutch were confronted with huge economic problems. Around 9 percent of the labour force had been sent to the army, foreign supply was cut off, and financial markets panicked. However, the informal September 1914 Dutch-German agreement on coal supply soon created stability and before the end of 1914 import substitution and governmental orders caused some recovery. Stability continued in 1915, although supply remained a problem as allied attempts to isolate Germany impacted the Dutch. Since the 1930s, economists have thought in terms of national economies. In fact, there was no Dutch economy. A substantial part of Dutch economic activity was adding value to imports that were exported again.When in 1914 the British Commercial Secretary was commissioned “to prevent Dutch supplies from reaching Germany,” this threatened transit, and, by isolating Dutch economic activities from its hinterland, broke up the structure of a regional north-western European economy. A Dut...
As mentioned above, the NOT’s policy meant that industry could continue. According to Van der Bie’s statistical reconstruction (see Table 1), however, the economic setback was severe. In 1914 industrial production decreased over 5 percent and stabilized in 1915. Employment also remained low initially, but grew in 1916. According to the Director-General of Labour-Inspection, industry boomed that year: Manufacturing enjoyed an unprecedented prosperity, and it had been many years since such enormous sums of money had been invested in industrial enterprises. Based on statistical analysis, H.J. de Jong published new data on industrial development in 1999. He argues that by 1916 industrial production grew as high prices, hardly offset by rising costs, resulted in unprecedented profits. Only when Germany introduced the unrestricted submarine warfare in February 1917 and the allies intensified their blockade, did supply collapse. Rising employment indicates that production was higher than s...
Cutting off imports generated opportunities. Competition disappeared not just because of the blockade, but also because the belligerents needed their goods at home. Dutch companies thus obtained opportunities to gain better positions in post-war competition. When the economic struggle reached its peak in 1917 nothing was left for non-belligerents. It became clear that the lack of a major coal industry, blast furnaces, adequate food production for home consumption etc. made the country vulnerable. When the 1914 agreement on coal expired in 1917, Berlin blackmailed the Dutch to provide a loan to the Reich at 55 guilders per metric ton on top of the base price. Supplies of iron, steel, and foodstuffs were also difficult to obtain. Thus, the government took responsibility or supported private initiatives. Investments in the state mines made the Netherlands almost self-sufficient in terms of coal before the next war. The Hague supported the creation of blast furnaces and initiated the dr...
After 1914, industrial production recovered. 1916 was a year of high employment. Due to high demand and limited supply, prices increased while wages stagnated. Thus, between 1913 and 1917 real labour costs declined by 17 percent, yielding high profits. The increase in competitiveness is partly explained by the growth of capital stock by 4.6 percent on average between 1913 and 1921.However, in 1917 and 1918, the collapse of trade caused a setback. Exceptions were sectors promoted to improve economic independence such as steel, mining, or public utilities. Since the setback was war-related and a quick end of hostilities expected, labour-hoarding became common in order to prepare for post-war production. In industrial sectors, the war led to expansion, cooperation, and new companies producing goods that were previously imported. Thus between 1909 and 1920, total employment increased 31 percent, mainly in industry and to a lesser extent in services. The war strengthened the development...
When the armistice was signed, Dutch industry was ready to supply the continent. However, the 1918 truce did not immediately result in orders. Many expected lower prices and waited. 1919 brought improvement to some industries, but uncertainty remained. Compared to the war years, improvements were undeniable, but for some industries developments were disappointing. Only in 1920 did industry grow abruptly, but the low exchange rate of several currencies, primarily the German mark, undermined Dutch competitiveness. Currency problems even plunged some sectors into depression and there were complaints about imports below cost.In addition, the slump in shipping resulted in a virtual shutdown of shipbuilding. Nonetheless, after the post-war problems were overcome, modernization bore fruit. This did not compensate for the collapse of the first wave of globalization. However, due to its increased competitiveness the Netherlands could partly offset the repercussions with a larger share in wor...
The blockade and submarine warfare were much more than a barrier to trade. World War I crushed the transnational northwest European economic region. Dutch businesses had to survive in a completely different setting. From 1915 growing domestic demand resulted in spontaneous import substitution, often involving horizontal and vertical integration. A huge increase of scale resulted. It was possible to finance this as prices rose and wages remained stable. Until 1917 real wages fell and profitability significantly improved. As companies had to take post-war competition into account, the reduction in labour costs did not result in low productivity. Instead, they invested in expansion and modernization, especially machinery. In 1917-18, when the inflow of overseas products collapsed, the dependence on German cartels became clear and its dangers manifest. Government and industry now jointly initiated the national production of strategic commodities. State mines expanded and steps were take...
Oct 26, 2020 · Before the euro: the Dutch guilder From the 17th Century until 2002, the currency used in the Netherlands was the Dutch guilder. The name comes from the Middle Dutch word gulden which means golden, indicating that the coin was originally made from gold. When the conversion was made, 2.20371 Dutch guilders would equate to one euro.