0
Add your answer:
Earn +20 pts
Why did south Africa adopt the gold standard?
Because it let them be on an equal playing field with the rest of the world. Gold had a set price that was the same all over the world and if everybody used it then everybodys currency was the same.
What effect did the Wall street crash have on Britain?
England was the first foreign country to be affected by America's economic policies, it reacted by taking the UK off the gold standard, this then had a affect on South Africa's economy as it was the largest producer of gold at the time.
Which 5 countries in the world produce the most gold?
# South africa # The united States # Australia
Major imports and exports in South Africa?
The major imports in South Africa include chemicals, petroleum, electronics and so much more. The exports on the other hand are gold, platinum, iron ore and so much more.
How many countries use the gold standard?
There are no countries today that are using the gold standard.
When and why south Africa adopted gold standard?
Because Africa is very near to sea and many other country are also nearer to Africa they will supply gold for sail in chief rate that's by in south Africa adopted gold standard.
How and when did South Africa adopt the gold standard and why did they abandon it?
The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. South Africa adopted the gold standard because it let them be on the same level with the rest of the world. Gold had a set price that was the same all over the world and if everybody used it then everybody's currency was the same. As the Great Depression set in, many countries (including Great Britain) abandoned their gold standard and devaluated their currencies. South Africa, however, (under General J.B.M. Hertzog) briefly maintained its gold standard and farmers were hard hit when the resulting spike in the cost of South African goods devastated exports, especially minerals and wool. Hertzog finally abandoned the gold standard on 27 December 1932. The move returned South Africa's fortunes; gold prices increased and sparked a phase of economic expansion.
Why did south Africa adopt the gold standard?
Because it let them be on an equal playing field with the rest of the world. Gold had a set price that was the same all over the world and if everybody used it then everybodys currency was the same.
After gold was discovered in South Africa Alaska and the Canadian Yukon the nation returned to?
a gold standard
What did the America return to after gold was discovered in South Africa Alaska and the Canadian Yukon?
The Gold Standard
Who was the first to adopt the gold standard?
The gold standard was first adopted in Britain in 1821Read more: gold-standard
Are there gold mines in South Africa?
Yes, there are gold mines in South Africa.
Is gold a main resource in South Africa?
Yes, gold is a main resource in South Africa.
What country is the world's lead producer of gold?
China has surpassed South Africa in largest production of gold.
Where did west African traders take gold?
South Africa
What country in Africa has the most gold?
south Africa
Does South Africa's mineral resources include uranium and gold?
Yes, South Africa has important reserves of gold and uranium.
