4 August — The issuance of copper coins that were depreciating compared to silver, and the increase in taxes that had to be paid only in silver, led to the Copper Riot in Moscow.
In the 17th century, the Tsardom of Muscovy had no gold or silver mines of its own, and precious metals were imported from abroad. At the Mint, Russian coins—kopeks, dengas, and polushkas—were struck from foreign coins.
The protracted war with the Polish–Lithuanian Commonwealth (1654–1667) required enormous expenditures. To find money to continue the war, the head of the Ambassadorial Prikaz, Boyar Ordin-Nashchokin, proposed issuing copper money at the value of silver. Taxes were collected in silver, while wages were paid out in copper.
At first, small copper coinage did indeed circulate on a par with silver kopeks; however, excessive issuance of copper money not backed by anything soon led to its devaluation. For 6 rubles in silver, one was given 170 rubles in copper. Despite the tsar’s decree, all goods rose sharply in price.
The uprising was suppressed by the tsar’s promise to punish those responsible and by sending a streltsy force against the rebels. On 11 June 1663, a decree was issued abolishing copper money.
A severe famine in France.
Tsar Alexei Mikhailovich sent an embassy to the English king Charles II to congratulate him on his assumption of power over England.