What is bimentalism?

Answer 1

Bimetallism is a monetary system in which the value of currency is based on two metals, typically gold and silver, at a fixed ratio. This system allows for both metals to be used interchangeably as legal tender, aiming to stabilize the economy by providing a more flexible money supply. Bimetallism was prominent in the 19th century, particularly in the United States, before being largely replaced by the gold standard and Fiat currencies. Proponents argued it would prevent deflation and promote economic growth, while critics pointed to issues of maintaining fixed ratios and the potential for instability.