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To: Ilaine who wrote (82)3/27/2001 10:41:41 PM
From: JF Quinnelly  Read Replies (1) | Respond to of 443
 
The return to the gold standard in the years following the War Between the States took about 10 years and had a deflationary effect. (Not dissimilar to the effect of England's decision to return to sterling 'parity' after WWI). This was very hard on Bryan's constituency, and seemed to them beneficial only to bankers.

I think they wanted "free silver", which would have made silver part of the monetary base, expanding the money supply.



To: Ilaine who wrote (82)3/28/2001 5:57:50 PM
From: Thomas M.  Read Replies (1) | Respond to of 443
 
The best analogy I can come up with is the current U.S. Dollar. Presumably, it is now free-floating. However, several countries (i.e. Hong Kong, Argentina) have linked their currencies to it. That does not make the Dollar fixed, in my mind.

Tom


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