The unprecedented increase in gold production between 1849 and 1853, and the continuance of production in volume about four-fold as great as that of the decade 1840-49 was reflected at once in a rise of prices.
This was a period of prosperity in business culminating in the crisis of 1857 (felt more or less in all the leading countries).

This prosperity accelerated the effect of increasing quantities of the standard money.

Credit was stimulated and the rate of circulation and the efficiency of money were increased.

Prices rose to a temporary maximum in 1857 and then fell as a great international financial crisis occurred.

The great new supplies of gold had been readily taken ("absorbed") into the monetary circulation of the world, to meet the needs of rapidly growing commerce and industry.