Monetary standard

Monetary Standard With Suggestions for the Establishment of an Invariable Unit of Value. London King. 

The medium of exchange used as money is called the monetary standard. Such standards are of two types, commodity standards (precious metal) and noncommodity standards (paper, or so-called fiat money ). The term fiat money comes from the Latin fiatiot let there be, as in Fiat lux ( Letthctc be light ) in the Latin bible. Fiat money is paper transformed into money by the decree of the state. 

The fiat monetary standard grants the government the authority and power to treat paper money as legal tender, letting the quantity of legal tender increase... 

Silver like gold was used in coins but the cost of silver compared to that of gold was gradually decreasing. In 1874 the cost of one pound of gold was equal to that of 15.5 pounds of silver but after the discovery of silver deposits in Australia this ratio fell to 1 46. In England bimetallism, i.e. the use of gold and silver jointly as a monetary standard, was discontinued in 1816. Later other countries followed this example. 

Gold is used extensively in the manufacture of electronics, in medicine, and as the world s monetary standard. This valuable metal is often found in nature in the... 

It is used in coinage and is a standard for monetary systems in many countries. It is also extensively used for jewelry, decoration, dental work, and for plating. It is used for coating certain space satellites, as it is a good reflector of infrared and is inert. 

The preceding chapters have portrayed the consequences for science and for occult alchemy of their mutual interest in material transmutation. This chapter explores different cultural consequences of modem alchemy in relationship to monetary anxieties during the Depression Era. In particular, it narrates how the idea of modern alchemy intensified questioning of the gold standard and of the moral foundation of scientific aspiration. By the late 1920s and... 

The modern alchemy stories published during the Hoover years demonstrated a real anxiety about the economy s destruction via transmutational attacks on the Federal Reserve and on banks gold reserves. The Federal Reserve had, of course, been created to avoid monetary crises like those in the bank panics of 1893 and 1907. But in the early 1930s, as the gold standard... 

Drummond, Ian M. 1987. The Gold Standard and the International Monetary System 1900-1939. London Macmillan Education. 

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