extravagance. For example, in 1911 the King organized his second coronation in grand style, with foreign dignitaries in attendance. The affair cost about 4.5 million baht, which at that time represented nearly 8 percent of the national budget. Such lavish spending provoked a plot in 1912 to overthrow him. During the period 1919-1922, Thailand experienced its first financial crisis when the global price of silver rose sharply. This resulted in the flight of silver out of the country and the revaluation of the baht against the pound sterling. At the same time the price of rice increased fivefold. Consequently, the real income of civil servants fell drastically in relation to those in commerce.