a monetary standard under which the basic unit of currency is defined by stated amounts of two metals (usually gold and silver) with values set at a predetermined ratio
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bimetallism::noun | Spocien Dictionary
| Type | Words |
|---|---|
| Type of | monetary standard, standard |
| Derivation | bimetallist, bimetallistic |
Examples of bimetallism
bimetallism
Bimetallism was thus inherently flawed and the advent of the gold standard was inevitable.
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In the United States, bimetallism became a center of political conflict toward the end of the 19th century.
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During the Civil War, to finance the war the U.S. switched from bimetallism to a fiat money currency.
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Economic issues, including bimetallism, the gold standard, free silver, and tariffs, were of primary importance.
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Bryan and Arthur Sewall were chosen as the candidates of the regular nominating convention that adopted bimetallism.
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Bimetallism was effectively abandoned by the Coinage Act of 1873, but not formally outlawed as legal currency until the early 20th century.
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The Republican platform supported high tariffs, bimetallism, stiffer immigration laws, free rural mail delivery, and a canal across Central America.
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This is called bimetallism and the attempt to create a bimetallic standard where both gold and silver backed currency remained in circulation occupied the efforts of inflationists.
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Although Walker argued that obligations existed between the employer and the employed, he was an opponent of the nascent socialist movement and argued in support of bimetallism.
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Toward the end of the nineteenth century, bimetallism became a center of political conflict During the civil war, to finance the war the U.S. switched from bimetallism to a flat greenback currency.
From the en.wikipedia.org
- A monetary standard under which the basic unit of currency is defined by stated amounts of two metals (usually gold and silver) with values set at a predetermined ratio
- (bimetallistic) pertaining to a monetary system based on two metals; "in a bimetallistic system both gold and silver can constitute legal tender"
- In economics, bimetallism is a monetary standard in which the value of the monetary unit is defined as equivalent either to a certain quantity of gold or to a certain quantity of silver. Such a system establishes a fixed rate of exchange for the two metals. ...
- A monetary standard in which a nation uses two metals, typically gold and silver, to back its currency. All forms of legal tender may be redeemed for either metal at a statutory rate. ...
- The definition of the value of a currency in terms of two different metals -- usually gold and silver -- at the same time. That is, the issuer of the currency promises to exchange it for either a certain fixed amount of one metal or for a certain (different) amount of the other metal. ...
- A monetary system which attempts to maintain a fixed exchange ratio between the metals gold and silver.
- This monetary system based on the two metal standards, gold and silver, was in almost universal use until the mid 19th century. ...
