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Topic: Bimetallism

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	EH.Net Encyclopedia: Bimetallism
		Under a typical bimetallic standard coins of gold and silver were produced by the Mint under orders of the sovereign, and they were given exchange values that reflected their intrinsic value.
		At the beginning of the nineteenth century most Western economies used bimetallic standards, but by the end of the century the gold standard - that is, a monometallic standard - covered the West and much of the rest of the global economy.
		The LMU countries were at the forefront of the promotion of bimetallism, but Britain and Germany were never really on board, and the requisite degree of international co-operation was not forthcoming.
	eh.net /encyclopedia/article/redish.bimetallism (1420 words)

	Bimetallism - Wikipedia, the free encyclopedia
		In economics, bimetallism is a monetary standard in which the value of the monetary unit can be expressed either with a certain amount of gold or with a certain amount of silver: the ratio between the two metals is fixed by law.
		Bimetallism and "free silver" were favored by Democrats, populists, and Western states with silver mines, in contrast to the gold standard which was favored by financial interests in the East Coast.
		The practical difficulties which in times past had confronted the maintenance of a joint standard, a concurrent circulation of the two metals, led one nation after another to abandon the effort, and to adopt a system of monometallism, with gold as its basis.
	en.wikipedia.org /wiki/Bimetallism (642 words)

	Bimetallism Revisited - Gold & Silver Forum
		Bimetallism theory and practise requires that gold must be defined in terms of another precious metal also having the reputation of being 'honest money.' The general public will understand this, because people can understand that one cannot define a word using the same word as part of the definition.
		And under a de jure and de facto bimetallic (gold and silver) standard, after one metal (such as silver) is removed from use by legislation, and is held due to its increased value vs. gold, deflation and depression can occur.
		The standard that was restored, however, was gold because silver, the undervalued currency under the bimetallic standard established by the Constitution in 1789, had been driven out of the U.S. by the mid-1850s and the Coinage Act of 1873 ("the Crime of '73") had demonetized the standard silver coin.
	goldismoney.info /forums/showthread.php?p=146505#post146505 (1874 words)

	bimetallism on Encyclopedia.com
		BIMETALLISM [bimetallism], in economic history, monetary system in which two commodities, usually gold and silver, were used as a standard and coined without limit at a ratio fixed by legislation that also designated both of them as legally acceptable for all payments.
		In a bimetallic system, the ratio is expressed in terms of weight, e.g., 16 oz of silver equal 1 oz of gold, which is described as a ratio of 16 to 1.
		Aside from England, which in acts of 1798 and 1816 made gold the standard currency, all countries practiced bimetallism during the late 18th cent.
	www.encyclopedia.com /html/b1/bimetall.asp (490 words)

	Laughlin, The History of Bimetallism in the United States, Front Matter: Library of Economics and Liberty
		The demand for this volume in the summer of 1896, when the revision was going on, was such that the publishers issued a third edition with the appendices revised to this year, and a new chapter at the end of Part II (Chapter XIII).
		Although the plan of this book was conceived with the view of presenting simply a history of bimetallism in the United States, it has been necessary, in the nature of the subject, to make it something more than that.
		I have also wondered why bimetallism should have drawn so much attention when its whole economic purpose may be accomplished in a more certain and effective way by the multiple standard.
	www.econlib.org /library/YPDBooks/Laughlin/lghHBM0.html (1709 words)

	Limping bimetallism - Wikipedia, the free encyclopedia
		Limping bimetallism was a monetary system in the United States that was partially dependent on silver but primarily dependent on gold.
		It was developed after the abandonment of bimetallism and the adoption of the gold standard in 1873.
		The Bland-Allison Act of 1878 allowed the coining of new silver dollars, thus creating this system, which was then abandoned again once the Gold Standard Act of 1900 was enacted.
	en.wikipedia.org /wiki/Limping_bimetallism (104 words)

	Bimetallism: An Economic and Historical Analysis
		Two important questions that will be addressed are (1) why bimetallism evolved into the gold standard, and (2) why the gold standard did not occur earlier than it, in fact, did.
		The raison d'être of bimetallism had been removed and England was on the gold standard." Very important in Redish's view (and she persuades this reviewer) was new technology for minting coin, which made token coins difficult to counterfeit.
		Redish disputes the conventional wisdom that the Union was an attempt to achieve international bimetallism.
	www.eh.net /bookreviews/library/0311.shtml (1060 words)

	bimetallism
		bimetallism, in economic history, monetary system in which two commodities, usually gold and silver, were used as a standard and coined without limit at a ratio fixed by legislation that also designated both of them as legally acceptable for all payments.
		The term was first used in 1869 by Enrico Cernuschi (1821–96), an Italian-French economist and a vigorous advocate of the system.
		Working against that is the fact that the debtor tends to pay in the commercially cheaper metal, thus creating a market demand likely to bring its commercial value up to its face value.
	www.infoplease.com /ce6/bus/A0807585.html (366 words)

	[A-List] bimetallism v. gold (Site not responding. Last check: 2007-10-13)
		Wilson also examines bimetallism as a brake on the=20 spread of the gold standard between 1870 and 1913.
		Too little time is spent exploring the real benefits from the=20 gold standard, and the author precipitously blames bimetallism's failure on= =20 the incompetence of the movement's leaders.
		This is a corner of the= =20 literature that has seen far too little attention but it is a prime example= =20 of institutional change and path dependence in an important sphere of the=20 economy.
	lists.econ.utah.edu /pipermail/a-list/2002-February/017556.html (1932 words)

	Economists - Federal Reserve Bank of Chicago (Site not responding. Last check: 2007-10-13)
		Bimetallism is feasible: we find a continuum of steady states (in the certainty case) indexed by the constant exchange rate of the monies; we also prove existence for a range of fixed exchange rates in the stochastic version.
		Bimetallism does not appear desirable on a welfare basis: among steady states, we prove that welfare under monometallism is higher than under any bimetallic equilibrium.
		We compute welfare and the variance of the price level under a variety of regimes (bimetallism, monometallism with and without trade money) and find that bimetallism can signifcantly stabilize the price level, depending on the covariance between the shocks to the supplies of metals.
	chicagofed.org /economic_research_and_data/wp_abstract.cfm?pubsID=387 (180 words)

	Bimetallic Standard and bimetallism : an introduction
		A bimetallic standard is a monetary standard where the monetary unit is defined as consisting of either a certain amount of a metal or a certain amount of another, with the monetary authority being ready at all times to coin either metal at the legal price.
		For example, in the United States for the greater part of the 19th century the dollar was defined as consisting either of 22.5 grains of gold or 371 grains of silver (a grain is 0.065 grams).
		Whenever the market price of silver in terms of gold is sufficiently far from the legal ratio, the economy switches to a monometallic standard, using the relatively cheapest metal as money and removing the other from circulation.
	www.micheloud.com /FXM/MH/Bimetalintro.htm (224 words)

	bimetallism -- Britannica Student Encyclopedia
		The typical 19th-century bimetallic system defined a nation's monetary unit by law in terms of fixed quantities of gold and silver (thus automatically establishing a rate of exchange between the two metals).
		The Democrats believed in bimetallism; that is, a money system based on both silver and gold and unlimited coinage of silver.
		Stevenson, Adlai E. The 23rd vice-president of the United States was Adlai E. Stevenson, who served in the Democratic administration of Grover Cleveland from 1893 to 1897.
	www.britannica.com /ebi/article-9079217 (482 words)

	Chapter 14 - Assignment 2: The Bimetallic Standard and Gresham's Law (Site not responding. Last check: 2007-10-13)
		Carefully explain how Gresham's Law may apply when a bimetallic standard is used.
		Explain why the relative prices of gold and silver remained stable throughout the first 70 years of the 19th century.
		Why was a bimetallic monetary standard replaced by a gold standard in the latter part of the 19th century?
	college.hmco.com /economics/boyes_melvin/fund/iex/student/a14_2.htm (107 words)

	Oilfield Glossary: Term 'bimetallism'
		This potential drop will appear on the spontaneous potential (SP) log, where it can be confused with the electrochemical potential.
		Since the magnitude of the drop depends on the formation resistivity, the effect of bimetallism is often seen as a resistivity log superimposed on the normal SP.
		In normal conditions, the effect of bimetallism on the SP is small, and care is taken to avoid it.
	www.glossary.oilfield.slb.com /Display.cfm?Term=bimetallism (127 words)

	Gilded Age Lesson Plan: The Issue of Bimetallism in the Late Nineteenth-Century: Primary Sources
		Gilded Age Lesson Plan: The Issue of Bimetallism in the Late Nineteenth-Century: Primary Sources
		Primary Source Readings on the Issue of Bimetallism in the Late Nineteenth-Century
		Read both of the following primary documents and write a 2-page essay in support for or against free silver.
	dig.lib.niu.edu /gildedage/teachers/blandallison-primary.html (809 words)

	FRB Minneapolis Research Archive - A Model of Bimetallism (Site not responding. Last check: 2007-10-13)
		FRB Minneapolis Research Archive - A Model of Bimetallism
		ABSTRACT: Bimetallism has been the subject of considerable debate: Was it a viable monetary system?
		We compute welfare and the variance of the price level under a variety of regimes (bimetallism, monometallism with and without trade money) and find that bimetallism can significantly stabilize the price level, depending on the covariance between the shocks to the supplies of metals.
	woodrow.mpls.frb.fed.us /research/wp/wp588.html (194 words)

	Working A Model of Bimetallism Franois R. Velde and Warren E. Weber (SMEALSearch) - Pal,Rangaswamy,Giles,Debnath (Site not responding. Last check: 2007-10-13)
		Working A Model of Bimetallism Franois R. Velde and Warren E. Weber (SMEALSearch) - Pal,Rangaswamy,Giles,Debnath
		Working A Model of Bimetallism Franois R. Velde and Warren E. Weber
		Bimetallism does not appear desirable on a welfare basis: among steady states, we prove that welfare under...
	smealsearch2.psu.edu /1433.html (281 words)

	Francois Micheloud Monetary History : learn about bimetallism and the Crime of 1873
		Francois Micheloud Monetary History : learn about bimetallism and the Crime of 1873
		Built from the latest historical and macroeconomic research, these pages explain complex monetary problems that shaped the world as we know it in a rich, graphical and entertaining presentation.
		Note : you need first to read Bimetallism to understand The Crime of 1873.
	www.micheloud.com /FXM/MH (170 words)

	The Glitter of Gold: France, Bimetallism, and The Emergence of the International Gold Standard, 1848-1873 - Owen ... (Site not responding. Last check: 2007-10-13)
		The Glitter of Gold: France, Bimetallism, and The Emergence of the International Gold Standard, 1848-1873 - Owen Leeming Marc Flandreau
		The Glitter of Gold: France, Bimetallism, and The Emergence of the International Gold Standard, 1848-1873 by Marc Flandreau, Owen Leeming
		Note: Cover may not represent actual copy or condition available
	www.biblio.com /books/isbnnu/42382535.html (175 words)

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