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La convertibilidad de la peseta en el siglo XIX

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  • Ródenas, Clementina
  • Bru, Segundo

Abstract

This paper proposes a new interpretation for a main issue of modern Spanish monetary history. The Spanish legal monetary system became bimetallist, as result of the Figuerola Decree, in 1868. The bimetallist system in force throughout the XIXth Century allowed the Bank of Spain, as the Bank of France did, pay its notes with silver, gold or both. As a result there was neither an inconvertibility declaration, nor any imaginary gold standard was abandoned in 1883. Law and legal practice always guaranteed convertibility of the peseta, that can't be identified only with gold exchange. In Spain there was never a suspension of tender notes convertibility such as in Italy, Portugal, Austria or France.

Suggested Citation

  • Ródenas, Clementina & Bru, Segundo, 2006. "La convertibilidad de la peseta en el siglo XIX," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 24(3), pages 555-578, January.
    • Handle: RePEc:cup:reveco:v:24:y:2006:i:03:p:555-578_00
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    Cited by:

    1. Roldan Alba, 2022. "The Golden Fetters in the Mediterranean Periphery. How Spain and Italy Overcame Business Cycles Between 1870 and 1913?," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 16(1), pages 170-193, January.
    2. Sánchez-Ballesta, Juan Pedro & Lloréns, Mercedes Bernal, 2010. "Monitoring, reputation and accountability in issuing banks in mid-nineteenth-century Spain," Explorations in Economic History, Elsevier, vol. 47(4), pages 403-419, October.

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