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public finance

財政 ／ public-finance　—　Institutions

The management of a state's income and outlay.

Vierlander (common silver of the four lands) Vierlander (common silver of the four lands)Established 1433 Sixpence of Elizabeth I Sixpence of Elizabeth I1560s– Écu d'or Écu d'orLate 16th to early 17th century
A photograph of the real thing this term names.

⚠ The debasement of currency typically occurs when state finances reach an impasse. Many phases of monetary history make sense when read as fiscal history.