Show the colonial shilling the value of 0 the colonial shilling was gradually reduced from the en english ag standard as the result ot of persistent cola coin slipping As early as 1642 massachusetts raised the rating of the spanish dollar to as and connecticut took similar action the following year in ag 15 virginia raised the rating of the dollar to as in 1652 massachusetts established a mint and began to coin shillings that were 22 fi per r cent higher than the sterling standard in 1683 the spanish dollar weighing approximately 17 pennyweights penny weights was rated at Gs Cs ad while pennsylvania valued it at as tho the consequence of 0 these variations in the colonies was that in 1707 parliament passed an act providing that the spanish piece of 8 reals dollar should not be valued at more than Gs but bullock tells us in his monetary history of 0 the united states that this law was almost universally ignored finally new york and north carolina settled upon a rating ot of as to the dollar and this valuation was gradually accepted and retained until our national monetary system was established dished |