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Gold and Silver as Monetary Metals

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  • John Cooper

Abstract

Commodity money systems, based upon gold or silver, provided relative economic stability for centuries. On the other hand, our modern paper money system, based upon unbacked government liabilities, is particularly vulnerable to abuse. The various financial crises during the twentieth century bear witness to that. This paper seeks to explain the mechanics of the former Gold and Silver Standards and provides an overview of America’s experience with its bimetallic system.

Suggested Citation

  • John Cooper, 2006. "Gold and Silver as Monetary Metals," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 7(2), pages 133-144, April.
    • Handle: RePEc:wej:wldecn:243
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=243
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