ABSTRACT
After World War I, and following the recommendations of the Brussels (1920) and Genoa (1922) Conferences, several European countries returned to the gold standard. After the inflationary experiences during the war and post-war years, it was expected that the gold standard would provide for long-run price stability, exchange rate stability and promote conditions favorable to the development of international trade and finance. Sweden was the first European country to return to a de facto gold standard, in 1922, which became de jure in 1924, at the pre-war parity. Among the belligerent countries, Germany was the first one to return to gold convertibility, in 1924, Great Britain returned to the gold standard in 1925 at the pre-war parity, and France returned in 1928.
