Chap10 The International Monetary System(6)

The Gold StandardThe gold standard dates back to ancient times when gold coins were a medium of exchange, unit of account, and store of value金本位制的历史可以追溯到远古时期，

当时金币是一个交换的媒介，记账单位和价值储藏 是用黄金或白银Payment for imports was made in gold or silver进口付款

Later, as trade grew, payment was made in paper currency which was linked to gold at a fixed rate后来，随

着贸易的增长，支付便用和黄金固定利率挂钩的纸 币山东经济学院·国际贸易学院 School of International Trade, Shandong Economic University 1-6

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