49:. As an independent entrepreneur, Balthasar was doing business at his own risk and his profit margin was based on the ratio of the value of the actual silver content of the coins against their value as currency. When the emperor increased the fees for the minting lease or raised taxes to pay debts, merchants had to pass that cost on by increasing prices or, as in the mint master's case, decreasing the actual amount of silver in the coinage thereby lowering the production cost of the coins against their value as currency. According to Austrian chronicler and contemporary of Balthasar's: "The emperor allowed bad coins to be minted; these coins were named
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with what was a vast sum in gold, silver and jewels of about ÂŁ40000. By July of that year
Balthasar and the emperor had come to some sort of arrangement, the details of which have been lost. Through this arrangement Balthasar was to pay the emperor an unknown sum in exchange for renewal of the
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According to another chronicle from the period, Balthasar became quite wealthy and influential through these activities until the emperor was forced to act in the spring of 1460. He issued an arrest warrant for
Balthasar, who received word of the order and fled to
135:
Konstantin Moritz A. Langmaier: Erzherzog
Albrecht VI. von Österreich (1418–1463). Ein Fürst im Spannungsfeld von Dynastie, Regionen und Reich (= Forschungen zur Kaiser- und Papstgeschichte des Mittelalters. Bd. 38). Böhlau, Köln u. a. 2015, 499–505,
81:. As a result of this the emperor also issued a decree in 1460 fixing wages and prices based on the value of better coins to be minted under the new agreement between the emperor and Balthasar.
53:. Anyone with lots of old copper kettles could mint better. He allowed such coins to be minted...by a citizen in Graz named Eggenberg, who had the lease on the minting operations in Graz and in
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Jakob Unrest, "Ă–sterreichische
Chronik von 1379 bis zirka 1500". K. Grossmann, Monumenta Germaniæ Historica, Scriptores rerum Germanicarum, N.S. 11, 1957, reprint 2001.
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This shortage of money for the payment of the mercenaries linked with the disputes between
Balthasar and Emperor Frederick III created a financial crisis. The
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minting lease under the stipulation that the minted coins could not have less than a specified amount of silver and amnesty to return to his lands in Graz.
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Hans-Werner Sinn, Die wundersame
Geldvermehrung, Staatsverschuldung, Negativzinsen, Inflation, 3. Auflage, Freiburg im Breisgau 2021.
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with a sharply decreased content of fine silver from the time around 1457 to 1460, which were in circulation mostly in the region of
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517:Parliament
480:Government
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649:Languages
634:Education
588:Transport
558:Companies
470:Elections
409:Mountains
394:Districts
367:Geography
337:Anschluss
223:Roman Era
59:Carinthia
787:Category
664:Religion
614:Abortion
573:Taxation
512:Military
448:Politics
250:Rugiland
233:Pannonia
190:articles
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23:pfennigs
771:Outline
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707:Cuisine
684:Culture
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553:Banking
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342:Ostmark
228:Noricum
198:History
186:Austria
120:Sources
33:History
792:Portal
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563:Energy
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624:Crime
404:Lakes
211:Celts
717:Flag
711:wine
127:ISBN
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490:Law
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