...1. The Gold Standard was the equivalence of the county’s currency in exchange for gold. For example, in 1933, the United States price of gold was $20.67. Domestically The Gold Standard regulated the quantity and growth rate of a country’s money supply, and internationally it determined exchange rates for participating countries as well. Because these exchange rates were fixed, this cause the price levels around the world to move together through an automatic balance-of-payments adjustment process. If one country was able to increase its production rate, this would cause a drop in prices, which would lead to more exports and the transfer of money from one country to another. The Gold Standard assured long-term price stability, but it also caused prices to be very unstable in the short-term. This is because of gold discoveries occurring around the world at unpredictable times. Many counties also did not follow the “Rules of the Game”, which caused the Gold Standard to be un-credible at times. 2. In 1834, the United States switched to the gold de facto and in 1900 the United States Congress passed the Gold Standard Act. The gold de facto, replaced a bimetallic system, which included the use of gold and silver. Gold was used throughout the years domestically, with examples like in 1933 when Roosevelt nationalized gold owned by private citizens and abrogated contracts in which the payment would be in gold. The Gold Standard broke down during WWI, when the value of gold was at half...
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...There is no doubt that the Founding Fathers and colonists had multiple reasons for turning against the British government. They believed that the British were treating colonists unfairly. The British passed many tax laws that were detrimental to the colonists. Unfair Taxation, the intolerable acts, and most importantly the king did not address the concerns of the colonists. I can understand the point of view of the colonists, they had no say in how the taxes were collected and spent. Furthermore, acts such as the stamp act of 1765 taxed common goods such as newspapers, pamphlets, and cards. Moreover, Parliament was not willing to give colonists which considered themselves British subjects a seat in parliament. Consequently, in order to try and get parliament to listen, many riots, boycotts, and protests such as the Boston Tea Party occurred. It is easy to see why the colonists thought that taxes were unfair. However, some people believed that American colonists paid fair taxes since the government supported and defended the colonists. But, the British government, had Laws which taxed common goods and controlled their trade. Which in turn, caused the colonists to become alarmed and think that these laws threatened the right to govern themselves. Equally important, the intolerable acts were passed in Massachusetts as a consequence of many protests and disturbances that occurred. Britain thought that the riots were just isolated incidents in Massachusetts. Thus, the acts were...
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