Core Viewpoint - The end of the silver standard in China in 1935 marked a significant moment in both Chinese and global history, reflecting the complexities of monetary reform and foreign influence on China's currency system [2][5][12]. Group 1: Historical Context - In the late 19th century, China was the last major country to use a silver standard, facing issues such as a chaotic currency system and the dominance of foreign currencies [5][12]. - The influx of foreign silver coins and the lack of a unified standard led to significant confusion in transactions, described as a "battle of wits" [6][7]. Group 2: Attempts at Reform - Various attempts were made to reform the silver currency system, including the introduction of the "Dragon Dollar" by Zhang Zhidong, which ultimately failed due to quality issues [8][9]. - The 1911 revolution and subsequent advocacy for a currency revolution aimed to replace silver with paper currency, aligning with global trends [9][10]. Group 3: International Influence - The international landscape, particularly post-World War I, saw a shift in power dynamics, with the U.S. emerging as a significant influence on China's monetary policy [13][14]. - Foreign banks issued their own currencies in China, complicating the local currency situation and undermining China's monetary sovereignty [12][13]. Group 4: The Decline of Silver - By the early 1930s, despite a theoretical surplus of silver, China faced a severe "money shortage," exacerbated by international pressures and domestic instability [14]. - The final abandonment of the silver standard in 1935 in favor of government-controlled currency marked the end of an era for China's monetary system [14].