However, in the late19th century, the price of gold and silver kept rising by leaps and bounds, which led to the collapse of the gold and silver standard. 1876 implements the gold standard. Abolish the circulation of 5 francs silver coins and stipulate that the gold content of francs is 0.2903225 grams.
During World War I, the value of the franc was decoupled from gold. 1June, 928, France promulgated a new monetary law and formally implemented the gold bar standard system. The gold content of 1 franc is 0.05895g, which is 79.69% lower than that of 1803. 1936 was forced to abandon the gold bar standard system. In June of the following year, the gold content of the franc was cancelled, and the franc became a paper money that could not be cashed.
Extended data
The franc was originally the gold and silver standard currency. 1865, at the initiative of France, France, Italy, Switzerland and Belgium held a meeting in Paris, announcing the establishment of a Latin monetary union (later joined by Greece, Spain, Romania, Venezuela and other countries) and implementing a dual-standard monetary system of gold and silver based on the French system.
Its member countries promised to only cast gold coins of 100 francs, 50 francs, 20 francs, 10 francs and 5 francs, and silver coins of 5, 2, 1 francs and 50, 20 centimeters.
After the Civil War, the five-dollar Eagle Gold Coin and the British Shavrin Gold Coin (30 shillings or 1.5 pounds) were both close to 25 francs, so the two countries proposed to establish contact with the Latin monetary union by issuing 25-franc gold coins in France, but this proposal was rejected by France, which was worried about the cost of currency recasting.
Because the price of gold and silver kept jumping in the late19th century, the gold and silver standard system collapsed. The exchange rate of gold and silver in France ranged from 1807 to 1: 15 to 1: 16. 17, and a large amount of gold flowed out, so France had to spend 65438+.
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