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The Glitter of GoldFrance
Bimetallism
and the Emergence of the International Gold Standard
1848-1873$
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Marc Flandreau

Print publication date: 2004

Print ISBN-13: 9780199257867

Published to Oxford Scholarship Online: August 2004

DOI: 10.1093/0199257868.001.0001

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The Rules of the Bimetallic Game

The Rules of the Bimetallic Game

Chapter:
(p.99) 5 The Rules of the Bimetallic Game
Source:
The Glitter of Gold
Author(s):

Marc Flandreau

Publisher:
Oxford University Press
DOI:10.1093/0199257868.003.0006

Chapter 5 studies the rules of bimetallic game. It discusses the constraints and opportunities of bimetallic regimes for monetary authorities. It shows that, contrary to a widespread view, a bimetallic system does not provide fundamentally different opportunities than a monometallic one, and thus places fairly tight constraints upon monetary authorities. In fact, it is during the years of bimetallism that a high degree of European monetary integration was first achieved.

Keywords:   Rules of the Game (Bloomfield), Gold devices, Bank of France, Gold purchases, Central Bank Cooperation (or lack thereof), Bank of England, Rothschild, Old banks, new banks, Péreire Brothers, Bank rates, Reserves, Monetary policy

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