Publisher's Synopsis
Excerpt from Transactions of the Asiatic Society of Japan, 1895, Vol. 23
The new period, an entire novelty in the history of money, began in 1871-3 with the demonetization of silver and the adoption of the gold standard by the United Empire of Germany, s and the resulting action of France and the Latin Union in at first limiting and finally prohibiting the free coinage of silver. Germany's de monitizing legislation was confessedly adopted in imitation of England, who had preached the wonderful blessings of the single gold standard ever since its adoption in 1819. The United States also omitted the coinage of silver in the coinage act of 1873, and though per month were coined by the Bland Act of 1878 and oz. Of silver by the Sherman Act of 1890, yet these were bare paliativos of the gold monometallism that practically existed in Europe and America since 1873. To emphasize this single metal regime still more, the British Government decided to stop the coinage of silver in the Indian Mints on June 26th, 1893, so that the greatest consumer of silver in the world has been to some extent deprived of its silver supplies.
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