近代国际金融史(国外英文资料).docVIP

近代国际金融史(国外英文资料) Modern financial history Modern financial history 1. Enter the early 19th century, in Russia, the United States, Australia and South Africa, and Canada found rich in gold resources, make gold rapid development productivity. In the latter half of the 19th century, human beings produced more gold than the last 5, 000 years combined. Due to the increase in gold production, increasing human demand for gold has realistic material conditions, in gold on the premise of the development of productivity, human has entered a gold period. The establishment of the gold standard meant that gold went from imperial to broad society; From the narrow court realm to the ordinary economic life; The symbol of the luxury of luxury has evolved into a symbol of wealth. The gold standard began in England in 1816, and by the end of the 19th century, the worlds main countries were basically on the gold standard. In 1914, 59 countries were on the gold standard in world war I. The gold standard has the following characteristics: (1) the gold in international intercourse ACTS as the international monetary, international reserve assets held by the central bank draft is mostly in gold, gold is the basis of the international monetary system. Gold COINS are freely minted, freely convertible and freely exported. (2) the exchange rate of the currencies between the two countries is measured by their respective Gold parity (Gold) To determine, for example, a pound has a gold value of 113.0015 green, while a dollar has a gold amount of 23.22 green. 1 pound = 113.0015/23.22 = $4.8665 As long as the gold content of the two currencies is unchanged, the currencies of the two currencies remain stable. Of course, this fixed exchange rate also has to be influenced by the supply and demand of foreign exchange and the international balance of payments, but the fluctuation of the exchange rate is limited to Gold Point). A gold delivery point is a boundary that causes gold to be exported or entered