bimetallism

/bai'metəlizm/

Thân thiện

Bimetallism allows a country to use both gold and silver coins as legal tender at a fixed ratio.

Definition

1. Noun:
   • A monetary standard: A system where the value of a country's currency is officially defined by and can be exchanged for fixed quantities of two metals, traditionally gold and silver, at a legally established ratio.

Usage

• Noun:
  • The debate over bimetallism was a major issue in late 19th-century American politics.
  • Advocates argued that bimetallism would increase the money supply and help farmers.
  • The country abandoned bimetallism in favor of the gold standard.

Advanced Usage

• "to advocate for bimetallism": to support the adoption of a bimetallic monetary system.
  • The political party's platform was to advocate for bimetallism.
• "the collapse of bimetallism": the failure or abandonment of the bimetallic system, often due to the market ratio of the metals diverging from the legal ratio.
  • The discovery of new silver mines contributed to the collapse of bimetallism.

Variants and Related Words

• Bimetallic (adj): Relating to or using two metals, especially gold and silver, as a monetary standard.
  • The bimetallic system proved difficult to maintain.
• Monometallism (n): A monetary system based on a single metal standard, typically gold.
  • Monometallism, specifically the gold standard, succeeded bimetallism in many nations.

Synonyms

• Double standard (in a monetary context): A system using two metals as a basis for currency. (Note: This term is less common and specific than .)
• Bimetallic standard: A direct synonym for .

Related Phrases

• "free silver": A political movement in the United States closely associated with the push for bimetallism, advocating for the unlimited coinage of silver.
  • The "free silver" movement was a key component of the populist call for bimetallism.

Học thuật

Noun

1. 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