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12: The Great Depression Pt. 2 - The Depression

History of the Second World War

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The Importance of Credit in the Depression

China was part of the gold standard, but used silver as their currency. China did not actually mine any significant amount of silver domestically. They were always wholly dependent on importing silver from international markets. At this point in history, there were many silver coins in circulation in China that were not actually minted in China, but instead in Mexico. This is because during the last half of the 19th century, the Mexican silver dollar was known for its high quality and uniform size.

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