Macro-Finance Salon (No. 117) : Europe, Asia, USA: Gold and Silver
2019-04-02 IMI
Professor Depeyrot’s lecture includes four parts: the evolution of European monetary system, the mining of gold and silver and subsequent impacts, the DAMIN Program which focuses on the Silver Crisis (1860-1914), and Shanghai’s overseas trade. In his preface, Professor Depeyrot interpreted the evolution of Western European monetary system in a vivid and thorough manner, using abundant pictures and analog videos. Later, taking the Gold Rush in western America in the mid-19th century as an example, he explained the mining of gold and its impact on the environment and economy, and introduced the then monetary system consisting of gold and silver.
Then, Professor Depeyrot introduced the DAMIN Program which he chaired, and clarified the research object and purpose. In his previous research on the Silver Crisis, Professor Depeyrot found that the discovery of silver mines (in the second half of the 19th century), the improvement of coinage technology, and the growing prosperity of global trade all contributed to the ultimate depreciation of silver. In the end, he analyzed the overseas trade of Shanghai, key port of China in the 19th century, and used sketch maps to show the flow of gold and silver in the Pacific region and the world. The profound impact of this trend was also explained in detail.
