from The American Heritage® Dictionary of the English Language, 4th Edition
- n. The use of a monetary standard consisting of two metals, especially gold and silver, in a fixed ratio of value.
- n. The doctrine advocating bimetallism.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. The use of a monetary standard based upon two different metals, traditionally gold and silver usually in a fixed ratio of values.
from the GNU version of the Collaborative International Dictionary of English
- n. 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.
from The Century Dictionary and Cyclopedia
- n. The use of two metals as money at relative values set by legislative enactment; the union of two metals in circulation as money at a fixed rate.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. 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
When the Fed was founded in 1913, the U.S. was on the gold standard, so controlling the value of money wasn't within its brief; arguments over inflation vs. deflation focused on so-called bimetallism, or the dilution of the gold standard with silver, which Congress determined.
There was a reason why William Jennings Bryan rallied millions behind his presidential campaign in 1896 when he campaigned against what he saw as the Republican plutocrats with his slogan that “you shall not crucify mankind upon a cross of gold” Although technically a speech for bimetallism, the slogan reverberated though the west, the laboring class, and poor farmers.
Money: Natural law of money, international bimetallism, "free silver," currency; the silver question and hard times by John Joseph Valentine
Throw in a 2009 Sherman-Silver Purchase clause to the stimulus bill, hold up the bill while working a populist angle on getting us off the Cash4Gold. com standard, and then, in a few weeks, say the Democrats won't work on a bipartisan bimetallism solution, so let's just add in a some more tax cuts.
-- Dorothy's magic silver slippers represented the silver standard and Populists 'goal of replacing gold with bimetallism; they were Ruby Red in the film to highlight the new Technicolor technology; by clicking her heels three times and repeating "There's no place like home," Dorothy's instantly transported to Kansas; after awakening, however, she discovers her slippers fell off, symbolizing the demise of silver coinage as a form of currency; and
Why was WJB able to rally so many farmers to the zany cause of bimetallism?
The politics of the gold standard, adopted in 1873, versus proposals for gold-and-silver bimetallism was not just an abstract debate in the 19th century but the casus belli of many a barroom brawl.
So why should an economics professor be kinder to proponents of bimetallism or Social Credit or self-financing tax cuts?
Hay also organized a conference to explore the possibility of an international pact on “bimetallism”—currency based on silver as well as gold.
Though McKinley had campaigned as a goldbug, he had promised to investigate bimetallism.