During the years 1880 to 1914 gold Turkey Phone Number List formed the basis of payment internationally. All currencies were valued to a fixed amount of gold which was held in reserve. The governments would have to repay the amount of the printed currency in Turkey Phone Number List gold when presented. This was done to ensure that the paper currency which was in circulation Turkey Phone Number List has a fixed value and the governments would not print excessive
amounts of paper currency and thus Turkey Phone Number List create cheap money in the process. The basic idea was to restore the confidence of the people on the circulated paper currency and ensure the survival of it. However the international gold standard started to Turkey Phone Number List dwindle out and by 1913 the United States had about 90% of their money supply from paper money and demand deposits. However the scenario again changed after the first Great War. Post the First World Turkey Phone Number List War, there was a popular sentiment which wanted
the old gold currency to be restored. High Turkey Phone Number List inflation and taxation had the entire Europe and America reeling. The United States was the first country to return back to the gold standard. This was followed by several European nations who also returned Turkey Phone Number List back to the gold standard. However during the First Great War the economies had been hit severely. The pressures of having run the war for years, the economies started to find the pinch and slowly started to Turkey Phone Number List detach themselves from the gold standard.