Whipping in Zhang, making silver a standard currency!
The silver standard system is a monetary system with silver as the standard currency. There are two kinds of silver standard and silver coin standard. The silver standard is the circulation of silver blocks with the weight of silver as the price standard. The standard of silver coin is that the state stipulates that silver is a monetary metal, and it is required to cast silver coins with a certain shape, weight and fineness; Silver coins can be freely cast and melted; Paper money can be freely converted into silver coins or silver; Silver coins and silver can be freely exported or imported to ensure the stability of the foreign exchange market.
In the history of currency, silver acted as the standard currency earlier than gold. However, as a monetary commodity, gold is far better than silver. With the economic development of western countries, the silver standard first transited to the gold-silver standard, and the 191920s was replaced by the gold standard. Only Mexico, Japan and India still maintain the silver standard.
The silver standard is a financial and monetary system, with a certain fixed weight of silver coins or silver blocks as the standard of economic units. Europe used the silver standard from the end of Byzantine Empire (1mid-5th century) to19th century. The Potosi silver mine was discovered in the Spanish colony in South America (now Bolivia) in the16th century. Spain minted a large number of silver coins, called pesos, because one peso is equal to the value of eight kronor coins, also called eight. Since then, silver coins have become the common currency of international trade in these 400 years.
China began to make a large number of silverware and silver ingots from the Han Dynasty, but as a currency, it became popular from the Tang Dynasty to the Yuan Dynasty. In the Ming Dynasty, due to the trade with Spain and Portugal, a large number of silver coins circulated, which also made China a country using the silver standard.
From 65438 to 0704, the British colonies West Indies and Spanish colonies also began to cast and use gold coins. 17 17, isaac newton, then director of the Royal Mint, set the exchange rates of gold, silver and coins, which made Britain actually take gold as the currency standard. After the Napoleonic Wars, Britain began to coin gold coins, and officially decided to use the gold standard in 182 1.