The value of the currency was thus linked to the value of gold, and the supply of money was limited by the amount of gold held by the government. This system was widely used in the late 19th and early 20th centuries and was seen as a way to stabilize currencies and promote international trade by providing a common reference point for the value of money. Under the gold standard, central banks were required to hold a certain amount of gold to back their issued currency, and international trade was conducted using gold-backed currencies. The gold standard was eventually abandoned due to the increasing demand for money and the need for central banks to print more money to finance the costs of World War I and the Great Depression.