Changes

The tael was a Chinese unit of weight, and a denomination of silver, equivalent to 1.3 ounces. Though not widely used within Japan, the tael was, for a time, widely exchanged and widely accepted amongst most major maritime powers in the world.

The tael was a Chinese unit of weight, and a denomination of silver, equivalent to 1.3 ounces. Though not widely used within Japan, the tael was, for a time, widely exchanged and widely accepted amongst most major maritime powers in the world.

Taels were exchanged either as bank notes, in silver bars or ingots measured by weight, or in coin, often Mexican silver dollars, which were likewise widely traded in the early modern period.

Taels were exchanged either as bank notes, in silver bars or ingots measured by weight, or in coin, often [[Mexican silver dollars]], which were likewise widely traded in the early modern period.

The [[British East India Company]] pegged the tael at five shillings<ref>Four shillings equaling £1.</ref> and as equivalent to one Japanese ''ryô''.<ref>Screech, Timon. "Owning Edo-Period Paintings." in Lillehoj, Elizabeth (ed.) ''Acquisition: Art and Ownership in Edo-Period Japan''. Floating World Editions, 2007. p30.</ref>

The [[British East India Company]] pegged the tael at five shillings<ref>Four shillings equaling £1.</ref> and as equivalent to one Japanese ''ryô''.<ref>Screech, Timon. "Owning Edo-Period Paintings." in Lillehoj, Elizabeth (ed.) ''Acquisition: Art and Ownership in Edo-Period Japan''. Floating World Editions, 2007. p30.</ref>