A lowering in price or value
The act or an instance of belittling
In 1879, owing to the continued depreciation of silver, the free coinage of silver was suspended.
As on previous occasions, the great depreciation in the value of the currency has led to a repudiation of part of its nominal value.
This depreciation reached its maximum in October 1891 ($460.82 paper for $100 gold), and remained between that figure and $264 during the next six years.
The consequence of these further issues was instant depreciation, and the note of Too francs nominal value sank to less than 20 francs coin.