About convertible currency

Americans from the outset ruled through money. Giving or not giving money, they ran and expensive allies, and the world. Here, of course, needs to be clarified – what kind of money do you mean? Money can be very different. Cowrie shells in New Guinea and the cows off the African Masai – also money.

For most modern people, money – these papers.

In China, paper money known to XIII or XIV. They found the IP Kozlov in a dead city Hara & #8209, Hohhot in the Gobi Desert. China to XVIII-XIX centuries. the money – a common occurrence. They even wrote "provided with all stocks of rice and bronze."

Europeans behind – until the end of the XVIII century. they did not have paper money. Money was the only gold and silver. During the War of Independence in the United States in 1772-1776 gg.

George Washington was the first time in history began to print paper money to pay their salaries to their officers: for the "real" metal money he had.

Since then, many governments are printing money wage, ie Issue of notes – paper money. Government is bound on demand to exchange paper money for gold coins … In fact, they were not always able to do this, the amount of paper money was more than gold. Sets rates – the ratio: how much paper money given for the gold? Say, in the 1830s in the Russian Empire for 100 paper rubles were given 30 gold.

In this era of anyone and would not have to carry paper money from country to country. Carried gold, of course. And no law defining the rights of import and export bills, was not there.

State to regulate the import and export of goods or products, smuggling was fun and not very dangerous, but lucrative occupation of the inhabitants of the coasts. Kipling wrote a very romantic poem about it:

If suddenly you hear hoofbeats in the night –

Rest in peace, baby, and do not sleep – be silent.

Do not look out the window, turn your back to the wall –

There are things in the gentlemen night under the moon.

Pony one after the other,

In the saddle – vyuchok,

Pastor baklazhka,

Attendant – snuff,

News spies

Ribbons for ladies –

This gentleman galloping on her way[73].

But the paper money of the country were being imported. Goods were taken, earned foreign money – and put into the pot. And the bank got their money, national.

With the Great Depression in 1930 & #8209And x paper money in the banks for gold does not change. In 1933, the gold standard was abolished in Britain. Course money in 22 countries was determined according to the pound sterling, and in relation to the dollar and other currencies are set depending on the pound sterling relative to that currency.

Even the strong countries like Germany, Sweden, Denmark, Finland, Japan, included in the sterling bloc.

In 1936 he abolished the exchange of money for gold in the U.S.. Canada and Latin America, the money tied to the dollar, their currency reserves held in U.S. banks and by the banks were all international payments.

Lasted longer than all Europeans – France, Italy, Poland, Belgium, Switzerland, the Netherlands changed their money gold until 1936 then gold bloc collapsed, all its member countries imposed exchange controls.

In 1960 & #8209And e was you could not freely import from Germany to France as many of the national currency – the marks. You to exchange some money at the border – but only just. The German could not come to France with brands to take and buy the French factory or land – to mark, or exchange them for francs. On the mark – just not as severely limited the exchange.

That is the international capital existed – but there were strict in general carry out the law that regulated what amounts, from where you can import and export.

Immediately after the Second World War in Europe, the dollar became the very freely convertible currency. In Germany, the 1950 dollar went almost freely in the rest of Europe too willing to take dollars. But it was a temporary phenomenon, while in Europe, post-war devastation reigned. Cost of Germany and other European countries to get stronger – and set firm rules, how to change the brand for dollars. What – do not.

Rather freely moving capital within the British Commonwealth. The heroes of British writers – and John Galsworthy, and Agatha Christie – no problems to import money from Britain to Australia, or to take out. But this is a movement of capital within the same empire! And from other countries that were not part of the British Empire and later the British Commonwealth, it was possible to import not all and not always.

Hero D. du Maurier in 1950 can not always take the Franks from the UK and buy a pound, it does take a whirl[74].

In the same way, and aunt of the hero Graham Greene export of currency, just like any other contraband[75].

Modern British already struggling to understand what it interpreted these older writers. Because foreign exchange restrictions were valid only until the end of the 1970s.

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