depression. In some cases, an economy may choose to abandon local currency altogether and adopt another country's currency as legal tender. Examples include the adoption of the US dollar in Panama, Ecuador, El Salvador and Zimbabwe and the adoption of the German mark and later the euro in Kosovo and Montenegro. See also Currency strength Fiat money Gold reserve Gold standard Silver standard Reserve currency Commodity currency Private currency Representative money Black Friday (1869)also referred to as the Gold Panic of 1869 References Currency Monetary hegemony Progressive Era in the United States