A new interpretation of the runic inscription on the Forsa Ring (Forsaringen in Swedish), provides fresh insights into the Viking Age monetary system and represents the oldest documented value record in Scandinavia. The inscription describes how the Vikings handled fines in a flexible and practical manner. This is highlighted in research from the Department of Economic History and International Relations at Stockholm University, recently published in the Scandinavian Economic History Review.
"The Forsaringen inscription "uksa … auk aura tua" was previously interpreted to mean that fines had to be paid with both an ox and two ore of silver. This would imply that the guilty party had to pay with two different types of goods, which would have been both impractical and time-consuming," says Rodney Edvinsson, Professor of Economic History at Stockholm University, who conducted the study.
The Forsa Ring is an iron ring from Hälsingland, dated to the 9th or 10th century. The runic inscription on the ring describes fines for a specific offense, where payment was to be made in the form of oxen and silver. The ring is believed to have been used as a door handle and is currently the oldest known preserved legal text in Scandinavia. By changing the translation of the word "auk" from the previous interpretation "and" to the new interpretation "also," the meaning changes so that fines could be paid either with an ox or with two ore of silver. An ore was equivalent to about 25 grams of silver.
"This indicates a much more flexible system, where both oxen and silver could be used as units of payment. If a person had easier access to oxen than to silver, they could pay their fines with an ox. Conversely, if someone had silver but no oxen, they could pay with two ore of silver," says Rodney Edvinsson.
The new interpretation shows that the Vikings had a system where both oxen and silver served as units of payment. This system allowed for multiple types of units of accounts to be used concurrently, reducing transaction complexity and making it easier for people to meet their financial obligations. The new interpretation also aligns better with how the system functioned later according to later regional laws and is, according to Rodney Edvinsson, significant for our understanding of both Scandinavian and European monetary history.
"As an economic historian, I particularly look for historical data to be economically logical, that is, to fit into other contemporary or historical economic systems. The valuation of an ox at two ore, or 50 grams of silver, in 10th-century Sweden resembles contemporary valuations in other parts of Europe, indicating a high degree of integration and exchange between different economies," says Rodney Edvinsson.
He has previously contributed to developing a historical consumer price index extending back to the 13th century, but this new interpretation provides insights into price levels even earlier in history.
Soorce: ScienceDaily
No comments:
Post a Comment