1916

Gold window already shut

In 1916 the classical gold window has been closed since 1914. It is not rebuilt. Britain’s return to a pre-war parity is 1925.

Twenty-dollar Federal Reserve note, series of 1914. The classical gold window is already shut. The note is not a new statute of this year.Public domain.

In 1914 war finance suspended convertibility and gold shipment. That peacetime order has not been restored.

The Federal Reserve already exists. Britain’s return to the pre-war sterling parity is 1925. The Genoa sketch of a gold-exchange system is 1922. Neither has happened.

Classical gold standard’s wartime end →