First, the silver standard system
It is stipulated that silver is a monetary metal and enjoys unlimited legal compensation ability; Specify the weight, fineness, shape and monetary unit of silver coins; Silver coins can be freely cast and melted, and paper money can be freely converted into silver coins.
International silver and silver coins can be imported and exported freely. Paper money in circulation can be freely exchanged with silver coins.
Second, the dual standard of gold and silver.
Gold coins and silver coins, both as functional currencies,/kloc-started in Britain in the middle of 0/7th century and then became popular in Europe. According to the role of gold and silver coins in circulation, it can be divided into parallel standard system, limping standard system and double standard system.
The content of the binary system of gold and silver is that gold and silver are monetary materials, and gold and silver coins are the standard currency. Gold and silver currency has unlimited legal compensation ability. Gold and silver coins can be freely cast and melted, and they can be freely exported and imported internationally. Paper money and other currencies can be freely converted into gold and silver coins.
Third, the gold standard.
Judging from the evolution of the monetary system, the emergence of the typical gold standard is due to the law that bad money drives out good money, and it is also related to the increase of gold production after 19 century. ?
The most typical feature of the gold standard system is that gold coins are the standard currency, and gold can be freely cast and melted. Other currencies in circulation can be freely converted into gold coins, and gold can be freely imported and exported internationally. Because the value of gold is relatively stable, it has promoted the development of commodity economy and international trade in various countries. Due to the limited output and reserves, gold can not fully meet the requirements of expanding commodity circulation for circulation means.
The non-convertible credit currency system takes paper money as the bookkeeping base currency, and paper money cannot be exchanged for gold. It breaks through the limitation of insufficient monetary materials on productivity development and saves precious metals.
Extended data:
Monetary system, also known as monetary system, is the currency circulation structure and organizational form determined by a government in legal form. A typical monetary system includes monetary materials and monetary units; The casting, issuance and circulation of money; The preparation system of currency issuance, etc.
The monetary system also refers to the international monetary system, that is, the organizational form of international currency circulation. In order to solve the problems of international currency such as international means of payment and international reserve assets in international trade and international settlement, countries have established a set of systematic principles, regulations, methods and systems, which involve all aspects of international currency circulation, including currency exchange and exchange rate formulation, balance of payments adjustment, international settlement system, international monetary relations, international financial markets and so on. And formed the international monetary system spontaneously or through consultation.
The original international monetary system, the international gold standard monetary system, came into being spontaneously to meet the needs of international economic relations at that time and the reality of domestic monetary systems in various countries from the 1970s to the early 20th century.
After World War I, especially during the world economic crisis in 1930s, it gradually disintegrated and split into several currency groups. After the Second World War, western countries formed an international monetary system centered on the US dollar, which gradually disintegrated after the 1970s due to the weakening of the status of the US dollar. Reforming the international monetary system and establishing a new and reasonable international monetary system have become a world-renowned topic.
References:
Baidu Encyclopedia-Monetary System