Word: outgoing
(lookup in dictionary)
(lookup stats)
Dates: during 1890-1899
Sort By: most recent first
(reverse)
...silver. Consequently these two countries drew away England's new silver coin, replacing it with gold. Finally England tried to check this flow of silver by reducing the value of the guinea to meet the demands of foreign markets. But it was too late; twenty years of the outgo of silver had taken away her power to exercise this check. The discovery of the mines of Brazil still further reduced the value of gold in relation to silver, and facilitated the progress of England toward a predominant gold-circulation. In 1816 an act was passed making gold the sole legal...