noun
- a monetary system in which two metals (typically gold and silver) are used as legal tender at a fixed ratio
Usage: economics
Examples
- The United States practiced bimetallism in the 19th century using both gold and silver coins.
- Many economists debated whether bimetallism or the gold standard was more stable.
- Bimetallism was abandoned by most countries in favor of single-metal standards.
- The politician advocated for a return to bimetallism to increase the money supply.
- Under bimetallism, the government maintained a fixed exchange rate between gold and silver.
- Critics argued that bimetallism created economic instability due to fluctuating metal values.