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The commercialization of agriculture was facilitated by railroad transportation. [4] Farmers complained of the high freight rates, but the available evidence contradicts the rationale. Yet real transport costs fell steadily throughout the post bellum era , but there is some evidence that the farmers were not benefitting from the lower rates. [ 5 ]
A gold standard means that the money supply would be determined by the gold supply and hence monetary policy could no longer be used to stabilize the economy. [114] Although the gold standard brings long-run price stability, it is historically associated with high short-run price volatility.
The Gold Clause Cases were a series of actions brought before the Supreme Court of the United States, in which the court narrowly upheld the Roosevelt administration's adjustment of the gold standard in response to the Great Depression.
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This means that a standard-size gold bar of about 400 troy ounces — like those featured in gold heist movies — now cost over $1 million each. The spot gold price is just shy of $2,500 an ounce ...
The doctrine of parity was used to justify agricultural price controls in the United States beginning in the 1920s. It was the belief that farming should be as profitable as it was between 1909 and 1914, an era of high food prices and farm prosperity. The doctrine sought to restore the "terms of trade" enjoyed by farmers in those years.
Countries with a gold standard are highlighted in yellow, countries with a silver standard are highlighted in blue, countries with a bimetallic standard are highlighted in green. During the 19th century there was a great deal of scholarly debate and political controversy regarding the use of bimetallism in place of a gold standard or silver ...
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