The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of Gold. http://en.wikipedia.org/wiki/Gold_standard
international standard adoption
- 1816: UK
- 1873: Germany, US, others
Germany had gone off the gold standard in 1914, and could not effectively return to it because war reparations had cost it much of its gold reserves. A number of other countries (other than the US) left the gold standard during the war. Most of them returned over a period of time after.
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