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Topic: Demonetization

	HighBeam Encyclopedia - demonetization
		DEMONETIZATION [demonetization], governmental withdrawal of the monetary quality from particular coinage or precious metal.
		By demonetization former money is no longer legal tender, although in certain cases it may still be used as money of exchange, i.e., the actual metallic value may sometimes be accepted in discharge of indebtedness.
		The demonetization law stipulated that gold may not lawfully be used in domestic exchange, although it may be purchased for shipment abroad.
	www.encyclopedia.com /html/d/demoneti.asp (310 words)

	Whither Gold? - Amerigold (Site not responding. Last check: 2007-10-11)
		The comparison between the demonetization of silver in 1873 and the so-called demonetization of gold a century later is disingenuous.
		In fact, the use of the word `demonetization' in connection with the latter is quite inappropriate: it is but a euphemism for debt-abatement or partial debt-repudiation inflicted upon the foreign creditors of the United States of America.
		While the so-called demonetization of gold was a farce staged by the U.S. government in order to cover up its own insolvency, the demonetization of silver a hundred years earlier was a genuine market-phenomenon.
	www.amerigold.com /the_seer/index.php?mod=cnt&act=cnt&id=64 (9705 words)

	Myanmar kyat - Wikipedia, the free encyclopedia
		Kyat banknotes were demonetized on a number of occasions with the ostensible aim of fighting fl marketeering, starting with the demonetization of 50 and 100 kyat notes on May 15, 1964.
		On November 3, 1985, the 50 and 100 kyat notes were again demonetized and replaced with new kyat notes in the unusual denominations of 15, 35 and 75, possibly chosen because of dictator Ne Win's predilection for numerology; the 75-kyat note was introduced on his 75th birthday.
		In 2003, rumors of another pending demonetization swept through the country, resulting in the junta issuing official denials, but this time the demonetization did not materialise.
	en.wikipedia.org /wiki/Kyat (839 words)

	The Gold-Demonetization Hoax
		According to official doctrine gold was demonetized in 1971 by the "Group of Seven", governments of the most important trading countries of the world.
		Demonetization was meted out as a punishment for "bad behavior".
		Unlike Lenin, superficial thinkers assumed that demonetization could be effected merely by the issuance of a government edict.
	www.gold-eagle.com /gold_digest_03/fekete090703.html (4029 words)

	[No title]
		Nevertheless, in the twenty-three years since silver was demonetized we have had two grand panics, several minor currency panics, hundreds of thousands of bankruptcies with liabilities of billions, and five labor wars in which 900 persons were killed and $230,000,000 worth of property destroyed.
		Holland had already demonetized most of her gold coinage, that is, had deprived it of the legal tender quality, and Portugal now practically prohibited any gold from having current value, except English sovereigns.
		During the eight years (1853-60) in which she was "ruined by cheap gold," importing 3,082,000,000 francs of it and exporting 1,465,000,000 francs of silver, a bullion operation to the amount of $909,000,000, she increased her exports most rapidly and with no corresponding increase in imports.
	www.ibiblio.org /pub/docs/books/gutenberg/1/6/3/2/16320/16320-8.txt (17571 words)

	Whither Gold ? (Site not responding. Last check: 2007-10-11)
		In doing so the governments were eating their words, as this effectively demonetized silver something they had said they would never do.
		The important thing to be remembered is that with every sort of money, demonetization - i.e., the abandonment of its use as a medium of exchange must result in a serious fall of its exchange value.
		With the demise of bimetallism in the 1870's the ability of the government to benefit a minority at the expense of the majority was greatly curtailed - albeit not for long.
	www.shoemakerconsulting.com /GoldisFreedom/Archives/whithergold.htm (19558 words)

	Chapter 14. Which option?. The power of money.
		Demonetization needs not only the destruction of the still existing communal cultures, but demands the creation of new communal cultures, by will or by force (!), in the individualistic cultures where they no longer exist.
		Another inevitable consequence of demonetization is the suppression of productive specialization in as many levels as possible, in order to reintroduce the reciprocal gift or bartering with as little confliction as possible (within each community or between neighbouring communities).
		Therefore, the first option of demonetization appears not to be feasible in very complex societies and markets, the way most of them are today.
	www.pangea.org /~jbardina/epdduk14.htm (1245 words)

	[No title] (Site not responding. Last check: 2007-10-11)
		The demonetization trickles down to local governments, budget sphere organizations, state-owned and privatized enterprises, and so on.
		Doubtful accomplish-ments in combating demonetization in the energy sector last year may be used as a good illustration for these substitutions.
		Thus far, the governments have been struggling with demonetization with little success because their focus has been on the nonmonetary transactions themselves rather than on their causes.
	www.cisp.org.ua /cisp/CISP_uk.nsf/c3c43243cbc299e9c2256d190055edf6/a078977a61169c81c2256b70005165a6 (2665 words)

	Walbert, The Coming Battle, ch 4 (Site not responding. Last check: 2007-10-11)
		Prior to the demonetization of silver in the United States, England and Portugal were the only nations whose standard of monetary value was based on gold.
		His strange logic is as follows : First, prior to its demonetization, the silver dollar was more valuable than that of gold, hence it would not circulate ; therefore, as a remedy to increase its circulation, the value of the bullion in the silver dollar must be made greater.
		The demonetization of silver by the United States and Europe so enhanced the exchange value of gold over other forms of property that it added $10,000,000,000 to the wealth of the creditor classes of England ; and from $35,000,000,000 to $45,000,000,000 to the accumulations of the creditor classes of Europe and the United States.
	yamaguchy.netfirms.com /walbert/battle04.htm (10907 words)

	Laughlin, The History of Bimetallism in the United States, Part I, Chapter VII: Library of Economics and Liberty
		Whatever is to be said about the demonetization of silver as a fact must center in the act of 1853.
		It is, moreover, possible that the silver dollar was not "demonetized" in 1873, in spite of the prevailing impression to that effect.
		It was asserted that the demonetization of silver was secretly carried out without any knowledge of it by the general public, or even by financial experts.
	www.econlib.org /library/YPDBooks/Laughlin/lghHBM7.html (2960 words)

	William Morris Stewart (1827-1909), Combination between Bank of England and Treasury (Site not responding. Last check: 2007-10-11)
		The demonetization of silver caused one portion of the demand to be dried up, to be closed, and a demand which always existed at a certain ration, and from that moment of course silver could fluctuate for anything.
		This terrible and unjust tax has been imposed upon them to satisfy the greed of the creditor class, and it is refreshing to note with what complacency opulent members of the gold ring endure the disasters which they have brought upon their neighbors.
		In 1873 and prior to the demonetization of silver, the silver dollar, since its first coinage in 1793, was always at a premium; in 1874 it was at par.
	yamaguchy.netfirms.com /uregina/stewart.html (7506 words)

	Flight From Inflation
		The demonetization of silver, called "the crime of 1873," served the need for the emotional surge.
		The silverites had argued that the demonetization of silver had cut half the base from under money, thereby reducing circulation and bringing hard times.
		Silver was not remonetized, and the gold standard held full sway until another and worse depression, which overtook the nation in 1930-1933, brought forth the theory that the trouble came from trying to maintain any metallic base.
	www.wepin.com /Review/FFI/Letter39.html (670 words)

	Highbeam Encyclopedia - Search Results for Coinage (Site not responding. Last check: 2007-10-11)
		The name is derived from the temple of Juno Moneta, Rome, where silver coins were made as early as 269 BC Mints existed earlier elsewhere, as in Lydia and in Greece; from there coinage was introduced into Italy.
		demonetization DEMONETIZATION [demonetization], governmental withdrawal of the monetary quality from particular coinage or precious metal.
		By demonetization former money is no longer legal tender, although in certain cases it may still be used as money of exchange, i.e., the actual metallic value may sometimes
	www.encyclopedia.com /SearchResults.aspx?Q=Coinage (673 words)

	The Crime of 1873 : the Crime itself
		What is known in Populist rhetoric of the late XIX century as The Crime of 1873 was the demonetization of silver enacted by the Coinage Act of 1873.
		Alexander Hamilton had set the United States on a bimetallic standard in 1792 and, with the notable exception of the Civil War, the country had not moved from this system.
		The demonetization of silver was accompanied by several circumstances which led to a strong secular deflationary trend of about 1.7 % a year in the general CPI from 1875 to 1896.
	www.micheloud.com /FXM/MH/Crime/crime.htm (1167 words)

	The Demonetization of the East (Site not responding. Last check: 2007-10-11)
		According to numerous studies, barter-like arrangements (known throughout the region as "compensation") constitute between 20 and 40 percent of all transactions in the economies of the former Soviet bloc.
		The implosion of communism led to a rapid shrinking of the manufacturing base and the evaporation of the agricultural and mining sectors in many countries in transition.
		The demonetization of the economy and the distortion of the price signal (which ensures the proper allocation of economic resources) are not the only pernicious effects of non-cash business.
	www.zmag.org /interactive/content/display_item.cfm?itemID=5503 (1228 words)

	SILVER INVESTOR
		They quoted English economists to the effect that from 1819, when England demonetized silver and adopted the single gold standard, up to the discovery of the gold fields of Australia and California, there was such an advance in gold as precipitated and was equivalent to a fall of 59 percent in the prices of commodities.
		The demonetization act went through by evasion; not a word was directly mentioned in it of the demonetization of silver; few knew of its purport; even the advocates of bimetallism voted for it.
		The movement for the demonetization of gold was arrested by the opposition of France.
	www.silver-investor.com /charlessavoie/cs_feb04.htm (14772 words)

	The Coming Battle, Chapter 9
		Before the United States demonetized silver in 1873, the production of wheat and cotton in India was insignificant, and her manufactures of cotton fabrics were in their infancy.
		With the demonetization of silver by the United States in the year mentioned, the production of wheat and cotton in India commenced on a large scale, and her manufactures of cotton goods developed very rapidly.
		Her remarkable growth in this direction was owing solely to the demonetization of silver by the United States and other nations, which action caused a tremendous fall in the bullion value of that metal.
	www.mega.nu:8080 /ampp/comingbattle/cbchap9.htm (4766 words)

	DEMONETIZATION - Online Information article about DEMONETIZATION
		The debasement and underrating of the silver coinage insensibly brought about the demonetization of silver in England as a standard of value and the substitution of gold.
		abandonment or demonetization of the metal as a standard and to its use merely as token See also:
		COIN (older forms of the word are coyne, quoin and coign, all derived through the O. Fr.
	encyclopedia.jrank.org /DEM_DIO/DEMONETIZATION.html (297 words)

	The Coming Battle, Chapter 4
		Hooper; and it will be seen that silver was demonetized by its provisions, by which the free and unlimited coinage thereof was taken array from that metal, and its legal tender debt paying power limited to the insignificant sum of five dollars for any one payment.
		His strange logic is as follows: First, prior to its demonetization, the silver dollar was more valuable than that of gold, hence it would not circulate; therefore, as a remedy to increase its circulation, the value of the bullion in the silver dollar must be made greater.
		The public conscience was so aroused by these exposures and proofs of the boundless official corruption and debauchery, that, in the congressional elections of 1874 the republican party met with an overwhelming defeat, and the democracy carried the House of Representatives by a great majority.
	www.mega.nu:8080 /ampp/comingbattle/cbchap4.htm (10824 words)

	Bland - New Mexico Ghost Town
		Named for Richard Parks Bland, who had fought against the demonetization of silver, this town was really a boom town.
		As soon as gold was discovered in the area, there were more people than places to sleep and it is rumored people slept in the streets as new buildings were built.
		The early 1890s saw the beginning of a gold and silver mining town named after Richard Parks Bland of Missouri whose fight against the demonetization of silver had gained him national fame.
	www.ghosttowns.com /states/nm/bland.html (251 words)

	FSO Editorials: "Two Views on the Self-Immolation of Paper Money" by Antal E. Fekete 02/14/2005
		He cited the example of demonetizing silver in the 1870's, followed by a sixty-year decline of silver’s value by more than 80 percent.
		To suggest that a causal relation exists between the two events is a fallacy that in logic goes by the name post hoc, ergo propter hoc (after it, therefore because of it).
		In the case of gold it is reinforced greatly by an objective fact, namely the stock of monetary gold in the world, the accumulation of millennia, reflecting the superb confidence in gold’s value by generations that have gone before us.
	www.financialsense.com /editorials/fekete/2005/0214.html (2493 words)

	If Not Silver, What? by John W. Bookwalter.
		In 1840 her exports were valued at $202,231,000, and her imports at $210,413,000; in 1873 her exports were $964,465,000, and her imports $915,285,000, and in only six of the years after she began to be “flooded with cheap gold” did her imports exceed her exports.
		During the eight years (1853-60) in which she was “ruined by cheap gold,” importing 3,082,000,000 francs of it and exporting 1,465,000,000 francs of silver, a bullion operation to the amount of $909,000,000, she increased her exports most rapidly and with no corresponding increase in imports.
		The bimetallic sentiment in England is not confined to the mere theorist and doctrinaire or statesman, but is advocated by some of the ablest journalists in the kingdom.
	www.gutenberg.org /files/16320/16320-h/16320-h.htm (17248 words)

	1857- 60 Issue
		Three major developments in postage stamps occurred between 1857 and 1861: the introduction of perforations in 1857, the addition of three new high-value denominations in 1860, and the Federal demonetization order in 1861, which brought the era of Toppan, Carpenter postage stamps to a close.
		Concerned that supplies of postage stamps in secessionist hands might be sold as contraband, the Federal government demonetized all circulating stamps and issued new stamps printed by the National Bank Note Company.
		The demonetization process began in August 1861 and continued for several months.
	www.siegelauctions.com /enc/1857.htm (857 words)

	British - Ceylon (Site not responding. Last check: 2007-10-11)
		Copper coins, expressed in cents of the rupee, were specially struck for the Colony at the British Indian Government Mint, Calcutta, and were released into circulation on the 1st January, 1872.
		Proposals were made by the Ceylon Government in 1890 for the demonetization of some of the Indian silver coins and their replacement by a local subsidiary silver currency.
		The large five cents piece had been found inconvenient and cumbersome and it was decided to replace it with a cupro-nickel coin of the same weight as the new Indian Anna (60 grains troy).
	lakdiva.org /coins/british_ceylon/british_colonial.html (606 words)

	Whither Gold? Part 2, by Antal E. Fekete (Site not responding. Last check: 2007-10-11)
		demonetization of gold a century later is disingenuous.
		demonetization exercise of 1971 is the centerpiece of mainstream economic
		While the so-called demonetization of gold was a farce staged by the U.S. government in order to cover up its own insolvency, the demonetization of silver a
	centre.telemanage.ca /links.nsf/2e957c35767d885885256b21007e00ba/556513f6de9a6b6f852568e100435125!OpenDocument (5572 words)

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