History, Politics & Society

What is bimetallism?

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Answered 2016-03-31 02:08:39

Bimetallism is an Economics term. It refers to a basis for currency valuation that centers on the two metals, silver and gold. In bimetallism, a given weight ("x" ounces) of one metal is equal in value to a given weight ("y" ounces) of the other metal. As an example, in the 19th century, the Populist party supported a policy of bimetallism in which 16 oz. of silver had the equivalent worth of 1 oz. of gold. A link can be found below.

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