1834 - The silver standard is reintroduced

King Karl XIV Johan on horseback

Many previous attempts had been made to stabilise the value of money by making it possible to redeem banknotes for silver. This did not succeed until the reign of Charles XIV Johan.

Both Gustav III and Gustav IV Adolf tried to set up arrangements so that the Riksbank’s banknotes could be redeemed for silver. However, wars and financial crises led to the banknote presses running at full capacity and the link to a specific amount of silver was undermined.

It was not until after many years of debate that the silver standard was reintroduced under Charles XIV Johan in 1834. This time, the value of money was stabilised for a long time to come. This made a positive contribution towards Sweden’s economic transformation in the 19th century and facilitated Sweden’s interaction with the international economy.