Suchergebnisse

From the early seventeenth to the late nineteenth century, the Mexican silver dollar was accepted as a common currency of Southeast Asia, though local governments issued their own dollars based on it. The decline of the value of silver relative to gold after 1870 introduced a gradual shift to official currencies pegged to a gold standard in Europe.

Malayan economic development in modern times can be split into three broad phases:(1) establishment and vigorous growth of the staple industries (tin and rubber) — roughly from the middle of the nineteenth century to 1914;(2) fluctuations of staple fortunes — the period between the two world wars;(3) consolidation and rationalization of the staple industries together with diversification of the economy — post 1945.