bimetallism


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bi·met·al·lism

 (bī-mĕt′l-ĭz′əm)
n.
1. The use of a monetary standard consisting of two metals, especially gold and silver, in a fixed ratio of value.
2. The doctrine advocating bimetallism.

bi·met′al·list n.
bi·met′al·lis′tic adj.

bimetallism

(baɪˈmɛtəˌlɪzəm)
n
1. (Banking & Finance) the use of two metals, esp gold and silver, in fixed relative values as the standard of value and currency
2. (Banking & Finance) the economic policies or doctrine supporting a bimetallic standard
biˈmetallist n

bi•met•al•lism

(baɪˈmɛt lˌɪz əm)

n.
1. the use of two metals, ordinarily gold and silver, at a fixed relative value, as the monetary standard.
2. the doctrine or policies supporting such a standard.
[1875–80]
bi•met′al•list, n.
bi•met`al•lis′tic, adj.

bimetallism

the use of two metals jointly as a monetary Standard with fixed values in relation to one another. — bimetallist, n. — bimetallistic, adj.
See also: Money
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.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 predetermined ratiobimetallism - 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
monetary standard, standard - the value behind the money in a monetary system
Translations
References in classic literature ?
I am convinced that he really believed in his heart that I came round to the Chestnuts three days a week for the pleasure of his company, and very especially to hear his views upon bimetallism, a subject upon which he was by way of being an authority.
He was the one intelligent man on twenty unintelligent committees--on every sort of subject, from the reform of the Royal Academy to the project of bimetallism for Greater Britain.
The explanation of the principles of bimetallism produce, as a rule, a contrary effect.
And though more advanced 19th century governments had ceased to resort to debasement, this did not prevent them from occasionally altering units' metallic content, implied mint prices, and (where bimetallism prevailed) mint silver to gold ratios.
Frank Baum's original story Dorothy's ruby slippers were actually made of silver in a nod to bimetallism (Brown, 2012, 17).
It did embody a possibly unwarranted faith in bimetallism, but from that time forward the country had a unit of account easily understood in domestic and international markets.
In opposition to the proposals advanced by bankers' groups, William Jennings Bryan (D-Nebraska) organized the populist agrarian interests of the Democratic Party and the free-silver western interests into a coalition that challenged the gold standard in favor of bimetallism.
Role of the state | The Clash of Economic Ideas reviews many other economic issues: how the market is a continual bidding process; how trade protectionism is like dumping rocks in your own harbors in order to counter some other government doing so in its own country's harbors; how goods take their values not from the labor expended in making them, but from the preferences of consumers; what is deadweight loss; what is Ricardo's rent; what is the land tax proposed by Henry George; how bimetallism cannot work; how deficit spending is not a free lunch; what Ricardian equivalence means; and so on.
The tariff was patriotic and the key to prosperity, bimetallism was the solution to the currency question, and free elections should involve neither force nor fraud.
Nowadays, the equivalent of the adjustment mechanism in the early modern world of bimetallism would be a fall in, say, Greek wage costs paid in the national currency, as long as it was traded at a discount.
Loser William Bryan slipped into history but bimetallism lived on for a little in the think tanks of the day.