In Canadian history,use of a commodity-backed paper currency is associated with the

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The use of a commodity-backed paper currency is associated with the gold standard. Canada adopted the gold standard in 1871 and remained on it until 1933. Under the gold standard, the value of a country's currency was fixed to a specific amount of gold, which provided stability to the currency and helped facilitate international trade. However, the gold standard also limited a country's ability to use monetary policy to address economic issues, which was a contributing factor to the Great Depression.

In Canadian History,use of a Commodity-Backed Paper Currency Is Associated