Prices fell, imports slowed, exports boomed, and specie flowed into the country.
The French crown was forced to pay for its Canadian expenditures by borrowing or taxing in France and shipping specie to the New World.
It was the habit of using paper money that was driving the nation's specie abroad.
If the bank required specie reserves, the notes acquired initially could have been called at expiration and not renewed.
Swiss cooperation had become essential as other neutrals responded to Allied pressure and refused to exchange war materials for specie .
Shortages of specie stifled economic growth by restricting the money supply.
The Chinese would accept only specie , usually silver, in payment.
The Revolutionary Leaders in France dealt in gold and silver specie .
The specie regime, more or less, dominated until 1971.
Paper notes could be exchanged for specie upon the bearer's demand.