The Governments of France, Holland, and Russia, in particular,
turned their attention to the monetary question, and in 1850 the
Government of Holland availed themselves of a law, which had not before
been put in operation, to take immediate steps for selling off the gold
in the Bank of Amsterdam, at what they supposed to be the highest
prices, and to stock themselves with silver.
"Palladium, which is likewise a superior white metal, was held more
firmly, and expectations were entertained that it would become available
for plating. The stock, however, was small. The silver operation was
carried on concurrent with a supply of bullion to Russia for a loan, a
demand for silver in Austria, and for shipment to India, and it did
really produce an effect on the silver market, which many mistook for
the influence of Californian gold. The particular way in which the
Netherlands operations were carried on was especially calculated to
produce the greatest disturbance of prices. The ten-florin pieces were
sent to Paris, coined there into Napoleons, and silver five-franc pieces
drawn out in their place.
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