社区

$黄金主连 2504(GCmain)$  There was no worldwide depression in 1925, and the more famous Great Depression occurred in 1929.

However, 1925 was indeed a year of economic turmoil, especially in the UK. At that time, the British government decided to restore the gold standard (Gold Standard), re-peg sterling to gold and restore its exchange rate to pre-war levels (£1 = $4.86). This decision led to a decline in the competitiveness of British exports, a setback in the economy and a rise in unemployment, which was considered to be an important factor in Britain's economic woes.

As for the price of gold, the world's major economies still adopted the gold standard in 1925, so the price of gold was relatively stable and did not rise significantly. In fact, as a result of the restoration of the gold standard, the price of gold in the UK market has been artificially low to a fixed level. But in the long run, this policy exacerbated economic problems and laid the groundwork for the Great Depression of 1929.