Crossword-Solution: DEMONETISATION 14 letters, 1 clue 🏆 scrabble score: 17

The full severity of that competition was, however, not experienced till towards the end of the seventies, when the opening up of the American West, coupled with the demonetisation of silver, brought down prices with a run.

The _assignats_ were wound up in 1796, and in February, 1797, there was "a general demonetisation of paper money."[11] The holders got practically nothing.

The completion of this system thus established was provided in section 3586 of the Revised Statutes of 1874, by which the silver coins of the United States were declared legal tender only up to five dollars, thus completing, from December 1873 onwards, the demonetisation of silver, and the establishment of gold monometallism on the English plan.

The law was only enacted for a year, and in the following May 1876 an attempt was made to pass a bill for the introduction of an exclusive gold standard, and for the demonetisation of silver.

Goschen declared that while the complete demonetisation of silver portended a commercial crisis to which no parallel could be found, England could consent to no serious modification of her currency system.