Jump to ContentJump to Main Navigation
The Glitter of GoldFrance
and the Emergence of the International Gold Standard
Users without a subscription are not able to see the full content.

Marc Flandreau

Print publication date: 2004

Print ISBN-13: 9780199257867

Published to Oxford Scholarship Online: August 2004

DOI: 10.1093/0199257868.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 08 December 2019

How did International Bimetallism Work? A Monetary Theory

How did International Bimetallism Work? A Monetary Theory

(p.157) 7 How did International Bimetallism Work? A Monetary Theory
The Glitter of Gold

Marc Flandreau

Oxford University Press

Chapter 7 provides a model of the operation of bimetallism as a global system, 1850-1870. It argues that the limited impact that the Gold Rush had on price levels can be primarily explained as resulting from a global adjustment process, whereby gold was in part absorbed by gold countries and in part by bimetallic ones, where it displaced silver which got absorbed by silver standard countries: because its effects were spread all over the world, regardless of the underlying standard, the Gold Rush had much more modest effects than contemporary initially feared.

Keywords:   Monetary approach to the balance of payments, Gold Rush, Silver Drain, Eastern silver imports, China, India, Tea and Silk, Cairnes, Gresham's Law

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .