The Gold Standard, 1880-1914: Britain and Argentina

The Gold Standard, 1880-1914: Britain and Argentina

The Gold Standard, 1880-1914: Britain and Argentina

The Gold Standard, 1880-1914: Britain and Argentina

Excerpt

This study is intended to show how the pre-1914 gold standard actually worked, or failed to work, in a portion of its field of operations. To this end a fresh theoretical approach to balance of payments adjustment problems has been put forward and has been applied to British and Argentine experiences in the forty years or so before the First World War. It should be emphasized that, although Britain and Argentina at that period were intimately connected by trade and capital flows (a fruitful field for considering the mutual gains arising from foreign lending and increased trade, besides the transfer of lending), this work is not concerned primarily with such interrelations, but deals with gold standard operations for each economy and the overall behaviour of their international accounts separately, to which, of course, these interrelations form an important background. By studying the behaviour of the pivotal country, Britain, and one (very much) on the periphery (whose behaviour patterns, it should be recalled, may well differ from others, e.g. France or the United States) it becomes clear how many essential differences there were in the gold standard system before 1914, and how much very special and particular circumstances contributed to its successful operation, and the extent to which these factors were forgotten afterwards.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.