Sentence Examples with the word monetary standard

In 1903 Congress adopted a gold dollar of 1.672 grammes weight .900 fine (equal to the U.S. gold dollar) as the monetary standard created a redemption bureau for the withdrawal of the paper circulation, prohibited the further issue of such currency, and authorized free contracts in any currency.

President Montt then took in hand the question of a reform of the currency, the abolition of inconvertible paper money, and the re-establishment of a gold basis as the monetary standard of the republic. This reform of the currency became the keynote of the president's policy during the remainder of his term of office.