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The French Crime of 1873: An Essay on the Emergence of the International Gold Standard, 1870-1880

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  • Marc Flandreau

    (Sciences Po - Sciences Po, Centre for Finance and Development - GRADUATE INSTITUTE OF INTERNATIONAL AND DEVELOPMENT STUDIES)

Abstract

This article attempts to provide a new view of how the bimetallic standard was maintained before 1873 and how it came to change into a monometallic gold standard between 1870 and 1880. The conventional view that the gold standard emerged out of the contradictions of bimetallism is not persuasive. Instead, this article claims that bimetallism might have survived and provides an alternative explanation of the emergence of the gold standard. Political and historical factors proved essential in precipitating the uncoordinated emergence of the international gold standard.

Suggested Citation

  • Marc Flandreau, 1996. "The French Crime of 1873: An Essay on the Emergence of the International Gold Standard, 1870-1880," SciencePo Working papers Main hal-03416271, HAL.
    • Handle: RePEc:hal:spmain:hal-03416271
    DOI: 10.1017/S0022050700017502
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03416271
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