⅙ Assis – Zug

In 1701, Zug, like other Swiss cantons, operated within a complex and fragmented monetary landscape. It did not mint its own coins but instead relied on a circulation of diverse foreign currencies, primarily from neighboring states. The most important of these were the silver Thaler coins from the Holy Roman Empire (Reichsthaler) and the various Batzen and Kreuzer coins from the Swiss Confederacy itself, particularly from powerful cantons like Bern and Zurich. This created a practical system where multiple coinages, each with fluctuating values, were used simultaneously in daily trade.

The situation was governed by official currency ordinances (Münztaxen) issued by Zug’s authorities. These ordinances attempted to fix the exchange rates between the various foreign coins in circulation, assigning them a value in the cantonal accounting system, which was based on the Pfund, Schilling, and Pfennig. However, the constant inflow of debased or underweight coins from elsewhere, and the varying silver content of issues from different minting authorities, made this a constant challenge. The effective value of a coin was often its precious metal content, not its face value.

Therefore, Zug’s currency situation in 1701 was one of managed instability. While the canton sought to impose order through regulation, its lack of sovereign minting power left it vulnerable to external monetary pressures. This system required merchants and citizens to be adept at assessing coins, and it posed an ongoing administrative problem for the council, which had to repeatedly adjust ordinances to reflect the reality of a debased and international mixed currency in its markets.