One of the mysteries of the English language finally explained.
1The ratio between the gold equivalents of currency in two countries.
- ‘These fluctuations are to be halted by taking measures to fix the exchange rate as near to mint par as possible.’
- ‘Under a gold standard, currencies are valued in terms of a gold equivalent known as the mint parity price (an ounce of gold was worth $20.67 in terms of the U.S. dollar over the gold standard period).’
- ‘The gold standard is one of the forms of a fixed exchange rates system because all currencies have a set equivalent in gold (mint parity).’
- ‘Since the cost of shipping £1 worth of gold between New York and London was about 3¢, the exchange rate between the dollar and the pound could never fluctuate by more than 3¢ above or below the mint parity.’
- ‘In 1900, for example, the mint parity for the U.S. dollar was $20.67, while that of the British pound was 3 pounds, 17 shillings, 10 ½ pence.’
- ‘In the effort to correct this problem, Congress subsequently changed the mint parity ratio to 16.5: 1, which overvalued gold at the mint, causing gold to flow in and silver to flow overseas.’
- ‘Addressing deflation associated with post-war resumption of gold convertibility at the old mint par, they advocated policies ranging from gradualism, to devaluation, and even to outright abandonment of the gold standard in order to avoid or mitigate deflation's harm.’
- 1.1 The rate of exchange between two countries based on mint par.
- ‘The lower species point is obtained by deducting the cost of transferring gold from the mint par of exchange.’
- ‘The mint par between these two countries was pound, one of England + 4.866 dollars of America.’
- ‘As time wore on, the wife seems to have made the assumption, most favourable to herself, that the exchange appropriate was mint par rate, and accordingly to have treated herself as entitled to £450 in respect of the 9,000 marks, which, together with the £12, amounted to £462; and this is the first of the sums which the plaintiff seeks to recover.’
- ‘He then develops data on exchange rates, mint parity and gold points, with which he investigates three important features of Anglo-American monetary history.’
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