Editing Gold standard (section)

===Rollout outside Europe===
The final chapter of the classical gold standard ending in 1914 saw the gold exchange standard extended to many Asian countries by fixing the value of local currencies to gold or to the gold standard currency of a Western colonial power. The [[Netherlands East Indies]] guilder was the first Asian currency pegged to gold in 1875 via a gold exchange standard which maintained its parity with the gold [[Dutch guilder]].

Various [[international monetary conferences]] were called up until 1892, with various countries actually pledging to maintain the limping standard of freely circulating legacy silver coins in order to prevent the further deterioration of the gold–silver ratio which reached 20 in the 1880s.<ref name="limping" /> After 1890 however, silver's price decline could not be prevented further and the gold–silver ratio rose sharply above 30.

In 1893 the [[Indian rupee]] of 10.69&nbsp;g fine silver was fixed at 16 British pence (or £1 = 15 rupees; gold–silver ratio 21.9), with legacy silver rupees remaining legal tender. In 1906 the [[Straits dollar]] of 24.26&nbsp;g silver was fixed at 28 pence (or £1 = 8{{frac|4|7}} dollars; ratio 28.4).

Nearly similar gold standards were implemented in Japan in 1897, in the Philippines in 1903, and in Mexico in 1905 when the previous [[Japanese yen|yen]] or [[Mexican peso|peso]] of 24.26&nbsp;g silver was redefined to approximately 0.75&nbsp;g gold or half a [[U.S. dollar]] (ratio 32.3). Japan gained the needed gold reserves after the Sino-Japanese War of 1894–1895. For Japan, moving to gold was considered vital for gaining access to Western capital markets.<ref name="ease">{{Cite book |first=Mark |last=Metzler |title=Lever of Empire: The International Gold Standard and the Crisis of Liberalism in Prewar Japan |publisher=University of California Press |location=Berkeley |year=2006 |url=http://eh.net/bookreviews/library/1166 |isbn=978-0-520-24420-7 |access-date=2009-11-26 |archive-date=2009-11-03 |archive-url=https://web.archive.org/web/20091103141127/http://eh.net/bookreviews/library/1166 |url-status=dead }}</ref>