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Fiat money system; allowed greater monetary policy flexibility but also risked inflation and reliance on government debt

Gold standard; limited inflation but contributed to economic booms and busts, like the Great Depression

Fiat money system; gave the government control over the monetary supply but increased vulnerability to inflation

Introduced bimetallic standard after unification; facilitated trade and monetary unification but created vulnerability to international silver and gold price fluctuations

Fiat money system; led to hyperinflation and necessitated the use of foreign currencies to stabilize the economy

Gold standard; contributed to economic stability and strong international trade, but limited the response to the Great Depression

Gold standard; attracted foreign investment and stabilized the ruble before being disrupted by World War I and the Bolshevik Revolution

Gold standard; facilitated stable exchange rates, enhanced international trade, but limited monetary policy flexibility

Gold standard; enabled economic growth and international trade but was hindered by war reparations and hyperinflation

Gold mark followed by hyperinflationary fiat money; reparations led to economic collapse and abandonment of the gold standard

Commodity money system; heavy reliance on precious metals led to devaluation of currency and economic instability

Gold standard; benefitted from investment inflows and stable prices, but lacked policy tools to counteract economic fluctuations

Latin Monetary Union; fixed exchange rates and reduced currency uncertainty, but suffered from disparities in national policies

Solidus-based gold standard; maintained remarkable monetary stability but limited economic flexibility in times of crisis