Contributions to the Knowledge of the Fiscal Administration of Egypt in the Middle Ages

Although the ratio between Egyptian gold coins (dinars) and those of silver (dirhams) is known to have fluctuated throughout the history of Islamic Egypt, no attempt has been made to explain the principles underlying the rate of exchange. Any such research is handicapped from the start by a deplorable failure on the part of numismatists to provide their fellow-historians with details concerning the alloys of various Egyptian coins. This drawback deprives us of any means of counterchecking the textual evidence. Nevertheless, it is the belief of the present writer that the material contained in written sources relating to the period of the Ayyūbids (A.H. 569–648/A.D. 1174–1250), allows us to ascertain certain facts concerning the contemporary exchange pattern. The analysis of the nature of that pattern shows clearly that the exchange rate of the gold and silver issues of the BaḥrI Mamlūks (A.H. 648–784/A.D. 1250– 1390), which remained fixed at 1: 20, 1: 25, and 1: 28 1/2, had its roots in the system of the Ayyūbids.