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During the 19th century, the enormous expansion of world production and trade was . mainly by gold. Even the issued by the banks were fully convertible to gold on demand, and this was the basis of their acceptance. However, production and trade were expanding at a faster than new of gold were being discovered. If trade was to continue growing at this rate, some commodity other than gold also had to be used as a of exchange.
  • cash
  • amounts
  • notes
  • supplies
  • way
  • means
  • rate
  • financed
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