Currency relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions. Others are simply traded for their economic
Card money financial crisis in France. For nearly 18 months there was no official circulating currency. The Company of the Indies ran storehouses for employees. The purchase of goods required vouchers which circulated as a makeshift currency. The company began issuing card money in January 1722 with two authorizing signatures of company directors in France or local officers in Louisiana. Denominations ranged from 5 sous to 50 livres, in different shapes to be easily distinguished by non-French speaking and illiterate population. With the introduction of the company card money also came severe inflation. By 1725 both the company vouchers and cards had