This left even less gold and silver to exchange for the huge amounts of paper money the banks had issued.

VOA: special.2009.01.01

This becomes a sheet of paper. Large machines started to be used for making paper near the end of the sixteenth century.

VOA: special.2009.07.06

This made it necessary for speculators to exchange their paper notes for gold.

VOA: special.2009.01.01