From the 1870s to the early 1920s, the global financial system was mainly tied to the gold standard. The United Kingdom first formally adopted this standard in 1821. Soon to follow were Canada in 1853, Newfoundland in 1865, the United States and Germany (de jure) in 1873. New technologies, such as the telegraph, the transatlantic cable, the radiotelephone, the steamship and railways allowed goods and information to move around the world to an unprecedented degree.
From the 1870s to the early 1920s the global financial system was mainly tied to the gold standard The United Kingdom first formally adopted this standard in 1821 Soon to follow were Canada in 1853 Newfoundland in 1865 the United States and Germany (de jure) in 1873 New technologies such as the telegraph the transatlantic cable the radiotelephone the steamship and railways allowed goods and information to move around the world to an unprecedented degree