Pullar ikki turli bo'ladi: metall pullar va qog'oz pullar. Metall pullar oltin, kumush, mis, qo'rg'oshin va nikel kabi metallardan olinadi. Qog'oz pullar esa oltin yoki kumushning o'rnini bosuvchi sifatida qog'ozdan chiqariladi, yoki oltin, kumush yoki ikkalasi bilan ta'minlangan bo'ladi, bu zaxira to'liq yoki qisman bo'lishidan qat'i nazar. Yoki ular na ulardan biri bilan almashtirilishi, na ulardan biri bilan ta'minlanishi mumkin.

Currencies are of two types, metallic and paper. Metallic currency is taken from metals like gold, silver, copper, lead and nickel. Paper currencies are taken from paper as a substitute for gold or silver, or backed by gold or silver or both whether backed in full or partially, or it can neither have a substitute nor be backed by either of them.

Dunyo oltin va kumushni pul va valyutaning asosi sifatida qabul qilib kelgan, to‘xtatgunga qadar, Birinchi jahon urushidan biroz oldin ular bilan muomalani to‘xtatdi. Birinchi jahon urushidan keyin u oltin va kumushdan qisman yana foydalanishga qaytdi, so‘ngra bu muomalani kamaytira boshladi. 1971 yilda, Amerika Prezidenti Nixon 1971 yil 15 iyulda dollarni oltin bilan ta’minlash va ikkalasini belgilangan narxda bog‘lash tizimi – Bretton-Vuds tizimini bekor qilinganini rasman e’lon qilganida, oltin va kumush bilan muomala butunlay bekor qilindi.

The world proceeded in adopting gold and silver as the basis of currency and money until little before World War I when it stopped dealing with them. After World War I it returned to using gold and silver partially then began to decrease this dealing. In 1971, dealing with gold and silver was abolished completely when Nixon, the American President, officially announced on 15/7/71 the abolition of the Bretton Woods system of covering dollars with gold and linking the two at a fixed price.

Pul tizimi — har qanday davlatda pul ishlab chiqarish va uni boshqarish asosida yotuvchi qoidalar majmuidir. Har bir pul tizimining asosiy vazifasi boshqa turdagi pullarning qiymati bog'lanadigan asosiy pul birligini belgilashdir. Masalan, agar yagona asosiy pul birligi muayyan miqdordagi oltin qiymati bilan cheklangan bo'lsa, bu birlik ushbu tizim uchun asosiy pul hisoblanadi. Pul tizimining nomi odatda u qabul qilgan asosiy pulning tabiatiga bog'liq bo'ladi. Shunday ekan, agar asosiy pul oltin bo'lsa, bu tizim oltin standarti deb ataladi. Agar asosiy pul kumush bo'lsa, u kumush standarti deb ataladi. Agar asosiy pul ikki birlikdan — oltin va kumushdan tashkil topgan bo'lsa, u bimetallik standart deb ataladi. Agar asosiy pul birligining qiymati oltin yoki kumush bilan qat'iy munosabatda bog'lanmagan bo'lsa, u majburiy pul standarti deb ataladi, bu mis pul kabi metallardan yoki qog'oz pul (banknotalar) dan olingan bo'lishidan qat'i nazar. Metall standarti — asosiy pul birligi metallardan tashkil topgan standartdir. Asosiy pul birligi bitta metalldan yoki ikki metalldan tashkil topgan bo'lishi mumkin.

The currency system is the host of principles upon whose basis manufacturing of currency and managing them are carried out in any State. The principal role for each currency system is to specify the principal currency unit to which relates the value of other types of currencies. So if, for example, the sole principal currency is limited to a specific value of gold, this unit is the principal currency for this system. The currency system’s name usually depends upon the nature of the principal currency that it adopts. So if the principal currency is gold this system is called the gold standard. If the principal currency is silver, it is called the silver standard. If the principal currency is composed of two units gold and silver it is called the bi-metallic standard. If the value of the principal currency unit is not linked in a fixed relationship with gold or silver, it is called a compulsory currency standard, whether it is taken from metals like copper currency or paper currency (bank notes). The Metallic Standard The metallic standard is the standard whose principal currency unit is composed of metals. Either the principal currency unit is composed of one metal or two metals.

Bu bir metalga, oltin yoki kumushga asoslangan metall pul standarti. Bu standart uch shaklda namoyon bo'lishi mumkin, ular:

This is the metallic currency standard depending upon one metal, gold or silver. This standard could appear in three forms which are:

1. Oltin yoki kumush tangalar standarti.

1. The gold or silver coinage standard.

2. Sabaik standartidagi oltin yoki kumush quymalar.

2. The gold or silver ingots Sabaik standard.

3. Oltin yoki kumush valyutasini ayirboshlash — Sarf standarti.

3. The gold or silver currency exchange Sarf standard.

Bu shunday standartki, unda ma'lum va belgilangan qiymat yoki vaznga ega bo'lgan oltin yoki kumush tangalar o'zi muomala vositasi sifatida aylanadi. Shuningdek, oltin yoki kumush tangalar bilan birga, ularni to'liq almashtiruvchi va ular o'rnini bosuvchi qog'oz pullar ham muomalada bo'lishi mumkin, ularni hech qanday cheklov yoki to'siqsiz istalgan vaqtda almashtirish mumkin. Oltin yoki kumush quymalar standarti. Bu shunday standartki, unda oltin yoki kumush tangalar muomaladan olib qo'yiladi. Davlat yoki markaziy banklar oltin yoki kumush quymalarni o'z xazinalarida saqlaydi va muomalaga chiqariladigan, oltin yoki kumushni almashtiruvchi qog'oz pul chiqaradi, uni oltin yoki kumushga almashtirish imkoniyati bilan.

This is the standard in which gold or silver coin pieces circulate in a specific, established value or weight which is the circulating tool itself. There could also circulate, together with gold or silver pieces, paper as substitute for gold or silver representing it completely such that it can be exchanged at any time without any restriction or barrier. The Gold or Silver Ingot Standard This is the standard in which gold or silver pieces are withdrawn from circulation. The State or central banks preserve gold or silver ingots in their treasuries and issue paper currency as substitute for gold or silver which is submitted for circulation with the ability of being exchanged for gold or silver.

Biroq, davlat bu slitka standartini belgilaganda, oltin yoki kumushni majburiy pul bilan almashtirish imkoniyatini cheklaydi. Bu imkoniyatni tor doiralar bilan chegaralaydi va tanga slitkalarini shunday katta miqdorda chiqaradiki, hamma ham ularni sotib ola olmaydi. Maqsad oltin yoki kumush zaxiralarini saqlash, to'lov balansida kamomad yuz bergan taqdirda ulardan to'lov uchun foydalanish imkonini berish va oltin yoki kumushning chet elga noqonuniy olib chiqilishining oldini olishdir. Shunday qilib, o'z pul standarti sifatida ushbu standartni qabul qilgan davlat pul nazoratining bir turini yaratadi va oltin yoki kumushning harakatlanishi ustidan ma'lum darajada nazorat o'rnatadi.

However, when the State designs this ingot standard it limits the absolute potential for exchanging gold or silver with compulsory currency. It limits this to within narrow limits and designs coin ingots in large quantities such that not everyone can purchase them, in order to preserve the reserves of gold or silver, allowing payment of them in case of deficit in payments balance and to prevent any smuggling of gold or silver abroad. Thus a State that adopts this standard as its currency standard creates a type of currency supervision and some control over the movement of gold or silver.

Ushbu tizimning o‘ziga xosligi shundaki, mamlakat tomonidan qabul qilingan pul birligi to‘g‘ridan-to‘g‘ri oltin yoki kumushga nisbatan belgilanmaydi. Aksincha, u oltin yoki kumushga bog‘langan boshqa mamlakat pul birligiga nisbatan belgilanadi, xuddi mustamlakachi davlatning oltin yoki kumush tamoyiliga asoslangan pul birligiga tobe davlatning pul birligi bog‘langanidek. Masalan, “Mandat” davrida Suriya va Livan puli frantsuz frankiga bog‘langan edi, Misr va Iroq puli esa Britaniya mustamlakasi ostida bo‘lgan davrda ingliz funtiga bog‘langan edi.

This system is distinct in that the currency unit adopted by the country is not directly defined according to gold or silver. Rather, it is defined in relation to the currency of another country that is linked to gold or silver like what occurred in linking the currency of a satellite country with the colonising state’s currency which followed the gold or silver principle. As an example to that is that Syrian and Lebanese currency were linked to French currency during the “Mandate” period, and Egyptian and Iraqi currency were linked to English currency during the period they were under British dominion.

Bu standart asosiy pul birligi ikki turdan iborat bo'lgan tizimdir: oltin va kumush. Ushbu standart uchun oltin va kumush birliklari o'rtasida vazn va o'lchov jihatidan aniq nisbatni belgilash zarurdir, shunda biri ikkinchisiga nisbatan o'lchanadi va uning almashuv qiymatini biladi. Bu tizimda oltin birlikdagi tangalar kumush birlikdagi tangalar bilan birga muomalada bo'ladi. Ba'zi davlatlar oltin birliklarni kumush birliklarga almashtirish uchun aniq qonuniy oraliqni belgilaydi, shunda ular o'rtasidagi valyuta almashuv narxi qat'iy bo'ladi.

This is the standard whose principal currency is composed of two units, gold and silver. It is inevitable for this standard to define a specific proportion in weight and measure between the gold and silver units, such that one can measure against the other and knows its exchange value it. In this system, gold unit pieces circulate together with silver unit pieces. Some States define a specific statutory range for exchanging gold units with silver units so that the currency exchange price is fixed between them.

Oltin va kumush standartini qabul qilish asosiy pul birliklari bo'lgan oltin va kumushni aniq va belgilangan qiymatda belgilashni talab qiladi, shuningdek, odamlarga oltin va kumushni cheklovsiz sotib olish, sotish, import qilish va eksport qilish imkonini beradi. Shuningdek, u tashqi savdoni osonlashtirish uchun ularning valyutalarini oltin va kumushga hamda aksincha almashtirish imkonini beradi, va davlatdagi zarbxona tomonidan olinadigan oddiy xarajat evaziga odamlarga oltin va kumush quymalarini tangalarga hamda aksincha aylantirish imkonini beradi.

Adopting the gold and silver standard requires defining the principal currency units of gold and silver in specific and fixed values and allowing people to buy, sell, import and export gold and silver without restriction. Also it enables them to change their currencies into gold and silver and vice versa, to facilitate foreign trade and allow people to change gold and silver ingots into coins and vice versa, for a simple cost taken by the coining house in the State.