Item #50868 POPULAR FALLACIES REGARDING BIMETALLISM. Robert P. Edgcumbe.

POPULAR FALLACIES REGARDING BIMETALLISM.

London / New York: MacMillan and Co. Ltd. / The MacMillan Co., 1896. 1st edition. INSCRIBED PRESENTATION copy, SIGNED by the Author. xi, [1 (blank)], 155, [1] pp. 8vo. 7-7/8" x 5-1/8". Original publisher's blue cloth binding with gilt stamped lettering to spine. Black eps. Slight cock, modest binding wear. Old front hinge repair, with ffep slightly adhering to paste-down along gutter. Age-toning to paper. A VG - VG+ copy. Item #50868

"Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed rate of exchange between them.

For scholarly purposes, 'proper' bimetallism is sometimes distinguished as permitting that both gold and silver money are legal tender in unlimited amounts and that gold and silver may be taken to be coined by the government mints in unlimited quantities. This distinguishes it from 'limping standard' bimetallism, where both gold and silver are legal tender but only one is freely coined (e.g. the moneys of France, Germany, and the United States after 1873), and from 'trade' bimetallism, where both metals are freely coined but only one is legal tender and the other is used as "trade money" (e.g. most moneys in western Europe from the 13th to 18th centuries). Economists also distinguish legal bimetallism, where the law guarantees these conditions, and de facto bimetallism, where gold and silver coins circulate at a fixed rate." [Wiki].

Price: $95.00

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