Book Review

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Book Review | The Journal of American History, 86.1 | The History Cooperative

Silver and Gold: The Political Economy of International Monetary Conferences, 1867-1892. By Steven P. Reti. (Westport: Greenwood Press, 1998. x, 214 pp. $59.95, isbn 0-313-30409-2.)

In the late nineteenth century, four international monetary conferences were held in Europe to consider problems relating to coinage, the gold standard, bimetallism, and intergovernmental cooperation. Steven P. Reti's book revisits these conferences and relates their proceedings to academic theories about the operation of the international monetary system. 1

The first meeting took place in 1867 after Napoleon III invited delegates from twenty governments to Paris to debate bimetallism and consider a plan for standardization of coinage. Britain, France, and the United States subsequently declined to mint a common coin, but the conference did succeed in encouraging governments to accept the gold standard. Eleven years later, representatives of twelve nations met in Paris at the invitation of the United States government to discuss abandonment of the gold standard and adoption of international bimetallism. While not endorsing bimetallism, the second Paris conference encouraged nations to determine their own monetary standards. . . .

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