In 1668, Marguerite Bourgeoys purchased Maison Saint-Gabriel for 1258 livres tournois.
How much is that sum worth today?
A. $2,000
B. $20,000
C. $160,000
For the answer ...
Answer :
It is almost impossible to determine the exact value of a 17th-century livre in today’s currency. This evaluation is related to the cost of living. If this question were asked in the 1950s, the answer would be $2,000 and today it would no doubt be $160,000. The answer depends on the time, cost of living and salaries. At the end of the 17th century, a foreman or a tradesman earned 300 livres per year.
The monetary unit circulating in the colony was the livre, which was sub-divided into sols and deniers. Until 1717, the money used in New France was worth 75% of that used in France. Following that, the value of the two currencies became equivalent.
1 livre = 20 sous
1 sou = 12 deniers