silver standard Synonyms
No Synonyms and anytonyms found
silver standard Meaning
Wordnet
silver standard (n)
a monetary standard under which the basic unit of currency is defined by a stated quantity of silver
silver standard Sentence Examples
- The silver standard was a monetary system where the value of currency was directly linked to the price of silver.
- Countries adhering to the silver standard promised to redeem their paper money with its equivalent weight in silver.
- The silver standard was widely adopted in the 19th century, before transitioning to the gold standard.
- The United States abandoned the silver standard in 1873, a move that sparked widespread controversy.
- Mexico maintained a silver standard until 1905, becoming one of the last countries to do so.
- The intrinsic value of silver made it a more stable currency than paper money during periods of inflation.
- The silver standard limited the government's ability to inflate the currency, as it could not print more money than it could back with silver.
- The silver standard was replaced by the gold standard as the primary international monetary system in the early 20th century.
- China adopted a de facto silver standard in the 19th century, even though it did not officially declare one.
- The silver standard is still used in some countries today, albeit in a limited capacity, as a way to protect against inflation and currency devaluation.
FAQs About the word silver standard
a monetary standard under which the basic unit of currency is defined by a stated quantity of silver
No synonyms found.
No antonyms found.
The silver standard was a monetary system where the value of currency was directly linked to the price of silver.
Countries adhering to the silver standard promised to redeem their paper money with its equivalent weight in silver.
The silver standard was widely adopted in the 19th century, before transitioning to the gold standard.
The United States abandoned the silver standard in 1873, a move that sparked widespread controversy.
