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TeachMeFinance.com - explain Double standard historic definition... 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. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.