bimetallism (Meaning)
bimetallism (n)
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
bimetallism (n.)
The legalized use of two metals (as gold and silver) in the currency of a country, at a fixed relative value; -- in opposition to monometallism.
Synonyms & Antonyms of bimetallism
No Synonyms and anytonyms found
bimetallism Sentence Examples
- Bimetallism was a prominent monetary policy during the 19th century in many countries.
- The United States adopted bimetallism with the Coinage Act of 1792, establishing a fixed ratio between gold and silver.
- Bimetallism allowed citizens to use either gold or silver to settle debts and conduct transactions.
- The debate over bimetallism versus the gold standard was a significant issue in American politics during the late 19th century.
- Proponents of bimetallism argued that it provided more flexibility in the money supply and stabilized prices.
- Bimetallism faced criticism from some economists who believed it could lead to currency instability and inflation.
- The transition from bimetallism to the gold standard in the United States occurred with the passage of the Gold Standard Act of 1900.
- Bimetallism played a role in international trade, as countries with different metal ratios had to adjust exchange rates accordingly.
- The decline of bimetallism was influenced by factors such as discoveries of new gold and silver deposits and changing economic conditions.
- Despite its eventual decline, bimetallism remains a topic of interest among economists and historians studying monetary policy.
FAQs About the word bimetallism
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 predetermin
No synonyms found.
No antonyms found.
Bimetallism was a prominent monetary policy during the 19th century in many countries.
The United States adopted bimetallism with the Coinage Act of 1792, establishing a fixed ratio between gold and silver.
Bimetallism allowed citizens to use either gold or silver to settle debts and conduct transactions.
The debate over bimetallism versus the gold standard was a significant issue in American politics during the late 19th century.
