I don't think a bimetal standard can work. Supply and demand fucks it all up. That doesn't mean you can't have two different metals (or three, etc.) as coinage, but only one can be standard or you get issues. More importantly, it opens up the door for manipulation.
To have multiple moneys as coinage, you simply make one defined as a "dollar" (like our current definition of 371.25 grains of silver) and make one "1 oz gold" or "1 oz copper" (e.g.). Then the value of the other metals simply is whatever it is for that day on an exchange based on supply and demand. Easypeasyjapaneesey.
I don't know how the Wizard of Oz fits in though. Tbf, it has been a long time since I've seen it.
I don't think a bimetal standard can work. Supply and demand fucks it all up. That doesn't mean you can't have two different metals (or three, etc.) as coinage, but only one can be standard or you get issues. More importantly, it opens up the door for manipulation.
To have multiple moneys as coinage, you simply make one defined as a "dollar" (like our current definition of 371.25 grains of silver) and make one "1 oz gold" or "1 oz copper" (e.g.). Then the value of the other metals simply is whatever it is for that day on an exchange based on supply and demand. Easypeasyjapaneesey.
I don't know how the Wizard of Oz fits in though. Tbf, it has been a long time since I've seen it.
Yeah check out the symbolism behind the wizard of oz. It directly relates to the coinage act. https://www.coinbooks.org/esylum_v19n52a18.html#:~:text=As%20railroads%20and%20large%20ships,as%20the%20Crime%20of%20'73.