As Europe and North America transitioned to the gold standard in the late 19th century, the global demand for silver plummeted, causing its price to collapse. This had severe economic consequences for nations that remained on the silver standard, particularly…
By the late 19th century, most of Europe and North America had abandoned silver in favor of the gold standard, marking the end of bimetallism in the industrialized world. However, China, India, and Mexico—three of the largest silver-consuming economies—remained on…
By the late 19th century, the global monetary system was undergoing a fundamental transformation. Nations that had long relied on bimetallism or silver-backed currencies increasingly shifted toward the gold standard, following the lead of Britain and Germany. This transition was…
The Franco-Prussian War (1870–1871) marked not only the unification of Germany but also a major turning point in global monetary history. In the aftermath of its victory, Germany used French war reparations to build a gold reserve and officially transitioned…
The demonetization of silver by the Coinage Act of 1873 sparked one of the most intense political and economic debates in American history—the battle between gold standard advocates and Free Silver supporters. While industrialists, bankers, and policymakers favored a gold-backed…
The Coinage Act of 1873, often referred to by silver advocates as “The Crime of 1873,” marked a turning point in the monetary history of the United States. By effectively demonetizing silver and transitioning the U.S. toward the gold standard,…
