Bimetallism

About this book

"This book presents a history of bimetallic monetary Systems in Western economies and explains why bimetallic standards - rather than silver or gold standards - were in use from the time of Charlemagne until the nineteenth century. Professor Redish argues that token money was a necessary complement to a gold standard, but token money (a fortiori fiat money) needed technological and political expertise that were not in place until the nineteenth century. This book chronicles the difficulties of operating bimetallic standards, and the evolution of the technological and political prerequisites for the gold standard."--Jacket.