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Bullionism
Bullionism is an economic theory that defines wealth by the amount of precious metals owned. Bullionism is an early or primitive form of mercantilism.{{Citation needed, date=October 2018 It was derived, during the 16th century, from the observation that the Kingdom of England, because of its large trade surplus, possessed large amounts of gold and silver— bullion—despite the fact that there was not any mining of precious metals in England. Examples of bullionists Thomas Milles (1550–1627) and others recommended that England increase exports to create a trade surplus, convert the surplus into precious metals, and hinder the drain of money and precious metal to other countries. England did restrict exportation of money or precious metals around 1600, but Milles wanted to resume using staple ports (ports where incoming foreign merchants were required to offer their goods for sale before anywhere else) to force merchants from abroad to use their assets to buy English goods and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silverite The Silverites were members of a political movement in the United States in the late-19th century that advocated that silver should continue to be a monetary standard along with gold, as authorized under the Coinage Act of 1792. The Silverite coalition's famous slogan was "16 to 1" – that is, the ratio of sixteen ounces of silver equal in value to one ounce of gold, a ratio similar to that established in the Coinage Act of 1834. Silverites belonged to a number of political parties, including the Silver Party, Populist Party, Democratic Party, and the Silver Republican Party. The Silverites advocated free coinage of silver. They wanted to lower the gold standard of the United States to silver therefore allowing inflation of the money supply. Many Silverites were in the West, where silver was mined.Gevinson, Alan. Silverites, Populists, and the Movement for Free Silver http://www.teachinghistory.org/history-content/ask-a-historian/25222 Advocates predicted that if silver were ... [...More Info...] [... |