International monetary systems

Historic international currencies. From top left: crystalline gold, a 5th-century BCE Persian daric, an 8th-century English mancus, and an 18th-century Spanish real.

The gold standard widely adopted in this era rested on the conversion of paper notes into pre-set quantities of gold.

This era saw periods of worldwide economic hardship. The image is Dorothea Lange's Migrant Mother depiction of destitute pea-pickers in California, taken in March 1936.

Harry Dexter White (left) and John Maynard Keynes (right) at Bretton Woods

International monetary systems are sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements between international economic factors spread over several decades. Alternatively, they can arise from a single architectural vision as happened at Bretton Woods in 1944.

单词	International payment system
释义	International payment system 原声例句精选英语短文 It was developed in the 1970s and is a cornerstone of the international payments system, as it allows banks to communicate securely. 它开发于 1970 年代，是国际支付系统的基石，因为它允许银行进行安全通信。英语百科 International monetary systems International monetary systems are sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements between international economic factors spread over several decades. Alternatively, they can arise from a single architectural vision as happened at Bretton Woods in 1944.
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International payment system

International monetary systems