1262

Assertion of royal power over monetary creation

Order of Chartres signed by Louis IX (Saint-​​Louis). In France, with the Order of Chartres, the King acquired a monopoly on monetary creation: the royal currency was forced legal tender across the country and counterfeiting was prohibited. This monopoly enabled the governing authorities to guarantee the quality of the precious metals present in the gold coins (reintroduced by Louis IX) and silver coins, and therefore to generate the confidence needed for the currency to be accepted by all.