bimetallism

Englisch - Türkisch

Definition von bimetallism im Englisch Türkisch wörterbuch: {i} para olarak altınla gümüşü oranlı kullanma sistemi; bimetalizm; (isim) para olarak altınla gümüşü oranlı kullanma sistemi

Englisch - Englisch

Definition von bimetallism im Englisch Englisch wörterbuch: The use of a monetary standard based upon two different metals, traditionally gold and silver usually in a fixed ratio of values; Monetary standard or system based on the use of two metals, traditionally gold and silver, rather than one (monometallism). In the 19th century, a bimetallic system defined a nation's monetary unit by law in terms of fixed quantities of gold and silver (thus automatically establishing a rate of exchange between the two metals). The system provided a free and unlimited market for the two metals, imposed no restrictions on the use and coinage of either metal, and made all other money in circulation redeemable in either gold or silver. Because each nation independently set its own rate of exchange between the two metals, the resulting rates of exchange often differed widely from country to country. When the ratio of the official prices proved different from the ratio of prices in the open market, Gresham's law operated in such a way that coins of only one metal remained in circulation. A monometallic system using the gold standard proved more responsive to changes in supply and demand and was widely adopted after 1867. See also exchange rate; silver standard; 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; 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; The use of a monetary standard based upon two different metals, traditionally gold and silver (in a fixed ratio of values); {i} use of two metals as money (especially gold and silver)