Kingdom of Hungary Máté Csák III. The kingdom of Hungary reached an age of prosperity and stability under Charles I. The gold mines of the Kingdom were extensively worked and soon Hungary reached a prominent standing in European gold production. The forint was introduced as a currency, replacing the "denars", and soon after Charles's reforms were implemented, the economy of the Kingdom started to prosper again, having fallen into a parlous state following the Mongol invasion. Charles exalted the cult to Saint Ladislaus I, using him as a symbol of bravery, justice and purity. He also venerated his uncle, Saint Louis of Toulouse.
Currency Act the debt from King William’s War. Other colonies quickly followed suit, and by 1715 ten of the thirteen had resorted to the issuance of paper currency. Economist Stanley Finkelstein highlights the advantage of paper currency, “that unless it is backed by specie it is cost free currency.” The paper currency depreciated quickly because the colonies printed more than what was taxed out of circulation. By 1740, Rhode Island bills of exchange were only four percent of face value and those of Massachusetts were eleven percent. The money supply was growing at a much faster rate than that of the overall