What Does Future Of Gold Standard Means?
In past in any guide to us, then we can say with certainty, that there is little prospect of gold standard being restored in its orthodox form gold standard work smoothly so long its rule were observed. When the First World War broke out, it could not face the financial panic and collapsed. From 1914 to 1918 during the war period, fixed rates of exchange were in operation in many countries but later on from 1919 to 1925, a series of different exchange rates were established according to the condition of the market between each pair of the countries. It was raised by all the countries on the gold standard. Australia took the initiative and restored the gold standard in a new from in 1922. Germany followed suit and adopted this standard in 1925. In Britain the gold standard was restored in 1925. from 1925 to 1931 these new forms of gold standard i.e., gold bullion and gold exchange standard were tried by many countries but none of them could strictly obey the rules of the gold standard a
