The DAMIN program of the depreciation of silver in history

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March 14, 2013 – The axis of the DAMIN program is the study of the depreciation of silver in the second half of the XIXth century and its consequences in developed countries. The brutal increase of silver production and the development of the gold standard in the 1870s originated a definitive decrease of the value of silver.
The ratio gold/silver that was established at more or less 1/15 or 1/15.5 shifted to 1/16, 1/18 up to 1/32 at the end of the century. This decline of the silver increased the real cost of the sums estimated in gold. However, taxes to be paid to gold-using countries or refunds of loans to London were more and more heavy (this was the case of India – silver-using – and Great Britain – gold-using –, or loans of Japan in example). Several solutions were considered, including the creation of a large silver-using zone (India, Asia). All these transformations were at the origin of crises and financial speculations: the ratio gold / silver was not the same at the same moment in USA, Europe, India, China, etc.

The DAMIN program wants to analyze this important phenomenon that was, in fact, the first financial globalization, and to understand the reality of the gold and silver production, its consequences, the importance of each economic zone. As trade and finance were globalized, the DAMIN program will include all countries concerned by the silver question: USA, Latin America, Europe, India, China, Japan and all the connected questions (prices, transportation, import/export, etc.).

The website will contain all the details concerning the activities of the DAMIN program. It includes the books published in the framework of the program, pdf and working papers, and information concerning the other publications, of the participants.
Besides the website the DAMIN program wants to republish the main documents produced at the end of the 19th c. concerning the monetary situation, the production of coins, the coin circulation and the banks. All these books, such as the International Monetary Conferences, the various reports produced in the USA, England, France, etc., give a huge number of data, analyses and information. The main part of these volumes are being published by Moneta.

The DAMIN program includes regular Round Tables: a first round table was held in Paris (January 2012), a second round table is already scheduled on May 13-14, 2013 in Paris (Ecole Normale Supérieure), the third round table will take place on May 16-17, 2013 in Madrid, in association with the Casa de Velazquez. The next ones (2014-2015) will be in Osaka (April 2014) in association with IAFOR, Copenhagen (September 2014) in association with The National museum of Denmark, Taormina (Sicily, September 2015) in association with the XV International Numismatic Congress. All the round tables will be video recorded and the proceedings will be published very quickly.

To learn more about the DAMIN program visit its website.

The volumes are being published with Moneta.

To get an impression of the round tables you may watch some of the videos taken during the 2012 Paris metting.