1. The Gold Standard, 1879 - 1913, Box 2.1, p. 24

• I. - a definition

• II. - a rule used (no capital controls)

• III. - a result of I and II.

• VI. - the means to sustain the system.

• V. - the means to sustain the system

• VI. - a major system feature: common price level.

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- a drawback - no variability allowed