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The article focuses on the economic impact of monetary reform during the Liberal Triennium period in Spain between 1820 and 1823. The transition from the traditional to the modern monetary system is discussed. Monetary policy, economic logic and the methodological bases of the traditional model are analyzed by the authors. The avoidance of an economic collapse during the transition due to the progressive subordination to the French currency is addressed. The impact of the tariff of Tolosa in 1823 and its effect on Spanish monetary policy are analyzed by the authors.