gold standard
gold standard. A monetary system in which currency is convertible into its legal equivalent in gold or gold coin. • The United States adopted the gold standard in 1900 and abandoned it in 1934. Cf. PAPER STANDARD.
Search Results for: GOLD STANDARD
paper standard
paper standard. A monetary system based entirely on paper; a system of currency that is not convertible into gold or other precious metal. Cf. GOLD STANDARD.
author’s right
author’s right. Copyright. The system of protecting the moral and economic rights of the creator of a work, esp. in civil-law countries. — Also termed (in French) droit d’auteur; (in German) Urheberrecht; (in Italian) diritto d’ autore; (in Spanish) derecho de autor. “[O]n almost every point of consequence, the traditions of copyright and author’s right
leverage contract
leverage contract. An agreement for the purchase or sale of a contract for the future delivery of a specified commodity, usu. silver, gold, or another precious metal, in a standard unit and quantity, for a particular price, with no right to a particular lot of the commodity. • A leverage contract operates much like a
bimetallism
bimetallism. A monetary system in which currency is defined in terms of two metals (usu. gold and silver), both being legal tender and with a fixed rate of exchange between them. • The American money system was based on a bimetallic standard from 1792 to 1873.