Silver Standard

The Silver Standard is a monetary system where the value of a country's currency is directly linked to a specific amount of silver. In this system, people can exchange paper money for a set quantity of silver, and the government or central bank maintains this peg. It was historically used before the adoption of the Gold Standard and helps ensure currency stability by backing it with a tangible asset. The Silver Standard offers a way to control inflation and provide trust in the currency, based on the value of silver held or pledged by the issuing authority.