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1931 British gold standard dropped...
1931 British gold standard dropped...
Item # 722204
September 22, 1931
CHICAGO DAILY TRIBUNE, Sept. 22, 1931
* British gold standard stopped - dropped
* Monetary money currency system
The top of the front page has a three column headline: "BRITAIN CALM UNDER GOLD SUSPENSION; ACT GETS ROYAL ASSENT; POUND AT $4.22; STOCKS RALLY HERE AFTER EARLY SLUMP" with subheads. (see images)
Complete with 56 pages, rag edition in very nice condition. A few small binding holes along the spine.
background: In September of 1931, Britain abandoned the gold standard, marking a major turning point in global economic history. Facing a severe financial crisis during the Great Depression, the British government and the Bank of England were under intense pressure as gold reserves dwindled due to a run on the pound and foreign withdrawals. By suspending the gold standard, the British pound was allowed to float freely, leading to its devaluation. This move helped stimulate exports and marked the beginning of a broader global shift away from the gold standard as countries sought more flexible monetary policies to combat economic downturns.
Category: The 20th Century
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