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Change CurrencyLast update: Saturday 19th of May 2012
The Union had no money supply policy or management. It was left to the market to determine how much money will be in circulation. The central banks pledged the free conversion of gold and silver to coins. But, this pledge meant that the Central Banks of the participating countries were forced to maintain a fixed ratio of exchange between the two metals (15 to 1, at the time) ignoring the prices fixed daily in the world at all times on those days. If a country prints an excessive amount of currency, more then what it normally would, this can decrease the demand for a particular currency. Lets take a look at these factors. Officially (and really) a gold standard developed throughout Europe and included coin issuers such as Germany and the United Kingdom). Still, in the Latin Monetary Union, the quantities of gold and silver to coins. But, this pledge meant that the Central Banks of the participating countries were forced to maintain a fixed ratio of exchange between the two metals (15 to 1, at the time) ignoring the prices fixed daily
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