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Chapter 2: The First Step to Seizing Power - Gold Standard Reform

Translator: 549690339

After entering the year 1855, the Austrian Government's economic conferences became more frequent, focusing not only on handling bad assets but also, more importantly, on currency reform.

Unlike at the beginning of his reign, when Austria's reserves of gold and silver were insufficient, stabilizing the currency became the primary focus of the government's economic efforts.

During the Near East War, a significant inflow of gold and silver through trade with Russia eased Austria's shortage of reserves, laying the groundwork necessary for a gold standard reform.

Monetary reform encompassed too wide a range and couldn't be decided by Franz with just a snap of his fingers. The Cabinet Government had debated multiple times and still hadn't reached a consensus.

Most countries now employed a bimetallic standard system, or used gold and silver directly as currency, while there were few truly gold standard countries.