Foreign Exchange Market/Gold Standard Summary

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The term was coined by a French Italian economist, Enrico Cernuschi in 1869. The system provided a free and unlimited market both gold and silver and forced no restrictions on the use and coinage of either metal. Independently each nation set its own rate of exchange between these metals the rates of exchange differed widely from country to country...
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Independently each nation set its own rate of exchange between these metals the rates of exchange differed widely from country to country. The face value of each gold and silver coin was at equal value until the Gresham's law determined that both metals being unequal would drive the lesser value of one coin out of circulation...
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