from The Century Dictionary and Cyclopedia
- Using silver money alone as full legal tender.
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No silver-standard country has a gold currency in circulation, but an enlightened and wise system of finance secures the benefits of both gold and silver as currency and circulating medium by keeping the standard stable and all other currency at par with it.
The double-standard nations and the differing single gold - or silver-standard nations doubtless contributed something to the relative equalization of values so long as they furnished an available market for any surplus of either metal, but this they are doing no longer.
The gold coin can "float" or have a changing price against the silver-standard dollar.
It circulated silver and gold coins as media of exchange by adjusting the content of the gold dollar to a silver-standard dollar.
During the last session of the Congress at the suggestion of a joint note from the Republic of Mexico and the Imperial Government of China, and in harmony with an act of the Congress appropriating $25,000 to pay the expenses thereof, a commission was appointed to confer with the principal European countries in the hope that some plan might be devised whereby a fixed rate of exchange could be assured between the gold-standard countries and the silver-standard countries.