bimetallism: meaning, definition, pronunciation and examples
C2Formal / Academic / Technical
Quick answer
What does “bimetallism” mean?
An economic system in which the currency is based on two metals, typically gold and silver, at a fixed relative value.
Audio
Pronunciation
Definition
Meaning and Definition
An economic system in which the currency is based on two metals, typically gold and silver, at a fixed relative value.
The theory or policy of using gold and silver jointly as a monetary standard with a fixed legal ratio between them. Historically, a major political and economic issue in the late 19th century.
Dialectal Variation
British vs American Usage
Differences
No significant differences in meaning or usage. The term is equally historical in both varieties.
Connotations
Historical, technical, associated with political debates like the US 'Free Silver' movement or the UK's adoption of the gold standard.
Frequency
Extremely low frequency in both varieties. Slightly more likely to appear in American historical texts due to the prominence of the 'bimetallist' movement in late 19th-century US politics.
Grammar
How to Use “bimetallism” in a Sentence
[Country/Government] adopted bimetallism.The debate centered on bimetallism.Advocates argued for bimetallism.Vocabulary
Collocations
Examples
Examples of “bimetallism” in a Sentence
verb
British English
- The chancellor was urged to bimetallise the currency.
- They refused to bimetallise the monetary system.
American English
- The Treasury Secretary considered bimetallizing the currency.
- Populists wanted to bimetallize to help debtors.
adverb
British English
- The system functioned bimetallically for a brief period.
American English
- They proposed to run the currency bimetallically.
adjective
British English
- The bimetallic standard was a topic of fierce debate.
- He held a bimetallist viewpoint.
American English
- The bimetallic proposal was central to the 1896 election.
- Bimetallist arguments focused on expanding the money supply.
Usage
Meaning in Context
Business
Virtually never used in modern business contexts.
Academic
Used in economic history to describe pre-20th century monetary systems and political debates.
Everyday
Extremely rare. Would only appear in detailed historical discussion.
Technical
A precise term in economic history and historical monetary theory.
Vocabulary
Synonyms of “bimetallism”
Neutral
Weak
Vocabulary
Antonyms of “bimetallism”
Watch out
Common Mistakes When Using “bimetallism”
- Using it to describe modern economics. / Confusing it with the metallurgical term for laminated metals. / Pronouncing it as 'bih-MET-al-ism' (stress is on the second syllable).
FAQ
Frequently Asked Questions
No, it is a purely historical term. No modern country uses a bimetallic standard; all use fiat currency.
Proponents believed it would provide a more elastic money supply, prevent deflation, and help debtors by making currency more readily available compared to a strict gold standard.
In the US, William Jennings Bryan was its most famous political advocate. Various populist and agrarian movements in the late 19th century supported it.
Monometallism, most commonly the gold standard, where the value of currency is tied to a single metal.
An economic system in which the currency is based on two metals, typically gold and silver, at a fixed relative value.
Bimetallism is usually formal / academic / technical in register.
Bimetallism: in British English it is pronounced /baɪˈmet.əl.ɪ.zəm/, and in American English it is pronounced /baɪˈmet̬.əl.ɪ.zəm/. Tap the audio buttons above to hear it.
Learning
Memory Aids
Mnemonic
Think BI (two) + METAL (gold and silver) + ISM (system) = a system using two metals for money.
Conceptual Metaphor
MONETARY SYSTEM IS A FOUNDATION (built on gold and silver).
Practice
Quiz
Bimetallism historically refers to a currency system based on: