monometallism


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mon·o·met·al·lism

 (mŏn′ō-mĕt′l-ĭz′əm)
n.
The economic theory or practice of using only one metal as a monetary standard.

mon′o·met′al·list n.

monometallism

(ˌmɒnəʊˈmɛtəˌlɪzəm)
n
1. (Banking & Finance) the use of one metal, esp gold or silver, as the sole standard of value and currency
2. (Banking & Finance) the economic policies supporting a monometallic standard
ˌmonoˈmetallist n

mon•o•met•al•lism

(ˌmɒn əˈmɛt lˌɪz əm)

n.
1. the use of one metal only as a monetary standard.
2. the doctrine or actions supporting this.
[1875–80; mono- + (bi) metallism]
mon`o•met′al•list, n.

monometallism

1. the use of only one metal, usually gold or silver, as a monetary Standard.
2. the use of only one metal for coinage. — monometallist, n.
See also: Money
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References in periodicals archive ?
It was, indeed, partly in consequence of such alterations, and partly due to the changing relative worth of gold and silver, that gold monometallism came to displace bimetallism in country after country during the first three quarters of the 19th century.
(1.) Hamilton (1791) recognized the possibility that a deviation of the mint ratio from the market ratio could lead to de facto monometallism. He wrote: "one consequence of overvaluing either metal, in respect to the other, is the banishment of that which is undervalued." One possible cause of the increase in the market ratio may have been the establishment of a bimetallic standard in France in 1803, with a mint ratio of 15.5:1.
Here events and ideas are seen in juxtaposition, gold monometallism, bimetallism, indexation, managed money, and central banking making an appearance, along with some additional writers, most notably Leon Walras and Francis Ysidro Edgeworth; Edgeworth and his 1888 article "The Mathematical Theory of Banking" are singled out for special attention.