0029

다음 빈칸에 들어갈 말로 가장 적절한 것은?

 The gold standard was a commitment by participating countries to fix the prices of their domestic currencies in terms of a specified amount of gold. National money and other forms of money                                      . England adopted a de facto gold standard in 1717 after the master of the mint, Sir Isaac Newton, overvalued the guinea in terms of silver, and formally adopted the gold standard in 1819. The United States, though formally on a bimetallic (gold and silver) standard, switched to gold de facto in 1834 and de jure in 1900 when Congress passed the Gold Standard Act. In 1834, the United States fixed the price of gold at $20.67 per ounce, where it remained until 1933. Other major countries joined the gold standard in the 1870s. The period from 1880 to 1914 is known as the classical gold standard.

*guinea 기니(영국의 구 금화)

**de facto 사실상, 실질적인

***de jure 법에 따라

 

① used to be secretly circulated
② were collected and discarded
③ were used under strict control between countries
④ could only be used after being recognized by the Pope
⑤ were freely converted into gold at the fixed price

 

정답 : ⑤

원문 : Gold Standard