TeachMeFinance.com - explain Double standard
Double standard -- The double standard of values exists
where by law it is enacted that gold and silver shall be accepted
as a legal tender for debt at an established ratio.
As a matter of fact in all such countries gold is the real
measure of value and is admitted to coinage without restriction,
while silver is coined only in limited quantities and under
governmental restriction to serve as representative money.
Silver retains its parity with gold because of the limitations on
its coinage and because of the fiat of the government under
whose authority it is coined.
The mere possession by a country of the double standard
is not the same thing as bimetalism, an essential feature of
which is a mint open to the coinage of any quantity of either
gold or silver that may be brought to it.
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