1871

Replacing of the silver standard in Germany by the gold standard. Coinage in 1873 of gold pieces of 5, 10 and 20 marks pieces, the latter weighing 7.168 grams fine. Silver, 60 1/2d.

1871

Establishment of the double standard in Japan with the ratio of 1 to 16.17 by the coinage of the gold yen of 1.667 grams and of the silver yen of 26.956 grams, both with a fineness of .900.

1873

Increase of the intrinsic value of the subsidiary coins of the United States. Replacing of the double standard by the gold standard. Reduction of the cost of coinage of gold to one-fifth per cent, the total abolition of which charge was decreed in 1875. Creation of a trade dollar of 420 grains, with a fineness of .900. Silver, 59 1/4d.

1873

Suspension of the coinage of 5-franc pieces in Belgium.

1873

Limitation of the coinage of 5-francs on individual account in France.

1873

Suspension of the coinage of silver in Holland.

1873

Formation of the Scandinavian Monetary Union. Replacing of the silver standard in Denmark, Sweden and Norway by that of gold on the basis of the krone. Coinage of pieces of 10 and 20 kroner, the latter weighing 8.961 grams, with a fineness of .900.

1874

Introduction of the system of contingents for the coinage of 5-franc silver pieces in the Latin Union. Silver, 58 5-16d.

1875

Suspension of the coinage of silver on individual account in Italy. Silver, 56 7/8d.

1875

Suspension of the coinage of silver on account of the Dutch colonies.

1875

Introduction of the double standard in Holland on the basis of the ratio of 1 to 15.62 by the creation of a gold piece of 10 florins, weighing 5.048 grams fine, with the maintenance of the suspension of the coinage of silver.

1876

Great fluctuations in the price of silver, which declined to 46 3/4d., representing the ratio of 1 to 20.172, in July. Recovery in December to 58 1/2d. Average price, 52 3/4d.

1877

Coinage of 5-franc silver pieces by Spain continued later, notwithstanding the decline of silver in the market. Silver, 54 3/4d.

1877

Replacing of the double standard in Finland by that of gold on the basis of the mark or franc.

1878

Act of United States Congress providing for the purchase, from time to time, of silver bullion, at the market price thereof, of not less than $2,000,000 worth per month as a minimum, nor more than $4,000,000 worth per month as a maximum, and its coinage as fast as purchased into silver dollars of 412 1/2 grains. The coinage of silver on private account prohibited. Silver, 52 9-16d.

1878

Meeting of the first international monetary conference in Paris. Prolongation of the Latin Union to January 1, 1886.

1879

Suspension of the sales of silver by Germany. Silver, 51 1/4d.

1881

Second international monetary conference in Paris. Silver, 51 ll-16d.