Currency United Kingdom: Pound Sterling

STERLING was at its heyday before 1914. It was. something more than the British currency; it was universally accepted as the most satisfactory medium for international transactions and might be regarded as a world currency, even indeed as the world currency: Its special position waS,no doubt connected with the widespread ramifications of Britain's foreign trade and investment. It was also due to absolute confidence in its stability, which had been maintained with complete success and without a break since 1,821,, sand, subject to minor disturbances, ever since England wisely decided to allow the free export of gold in 1063.