when did the uk stop using the gold standard
Gold standard Many other countries followed Britain in returning to the gold standard, this was followed by a period of relative stability but also deflation.[24] This state of affairs lasted until the Great Depression (1929–1939) forced countries off the gold standard. In September 19, 1931, speculative attacks on the pound forced Britain to abandon the gold standard. Loans from American and French Central Banks of £50,000,000 were insufficient and exhausted in a matter of weeks, due to large gold outflows across the Atlantic.[25][26][27] The British benefited from this departure. They could now use monetary policy to stimulate the economy. Australia and New Zealand had already left the standard and Canada quickly followed suit.
History of the United States dollar Bimetallism persisted until March 14, 1900, with the passage of the Gold Standard Act, which provided that: