0
$\begingroup$

I remember reading in a economics and history book that sulphuric acid production was used as an alternative to gold standard as the basis of the value of currency due to it’s importance in making fertilizers; i.e, the money was backed by the production of sulphuric acid, but I cannot find the source towards that nor the book. The acid itself was not the medium of exchange if that was not clear.

It is entirely possible that my memory is making this up, so pardon if that is the case. Were it not, or were there an equivalent of money backed by manufactured good, and not on an extracted good. I would appreciate a source to that. Thank you.

$\endgroup$
3
  • 1
    $\begingroup$ This question seems to be contradictory. If something is not used as medium of exchange by definition it cannot be money. Please clarify what do you mean by ‘money standard’? You mean money backed by the acid like under gold standard money was backed by gold? $\endgroup$ – 1muflon1 Jun 5 at 18:30
  • $\begingroup$ That is what I meant. Thanks for the observation. Will modify the question. Tried using a different word but it seems I failed. $\endgroup$ – Evamentality Jun 5 at 21:21
  • $\begingroup$ thanks for letting me know, I edited your question to be more clear $\endgroup$ – 1muflon1 Jun 5 at 21:25

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.