Due to differing valuations in other European countries this inadvertently resulted in a silver shortage as silver coins were used to pay for imports, while exports were paid for in gold, effectively moving Britain from the silver standard to its first gold standard, rather than the bimetallic standard implied by the proclamation.

Due to differing valuations in other European countries this inadvertently resulted in a silver shortage as silver coins were used to pay for imports, while exports were paid for in gold, effectively moving Britain from the silver standard to its first gold standard, rather than the bimetallic standard implied by the proclamation.

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