monometallism definition

  • noun:
    • the commercial theory or practice of employing only one steel as a monetary standard.
    • the usage of just one metal (eg silver or silver) in the standard money of a country, or as a regular of value.
    • The legalized utilization of one material only, as silver, or gold, within the standard currency of a country, or as a regular of income values. See bimetallism.
    • the utilization of only one material as a regular of worth in the coinage of a country; in addition, the economic concept that supporters such one standard. See bimetallism.

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