The monetary system of western Europe had evolved towards monometallism, at first based on an increasingly debased gold coinage and in due course on silver.
Definition of monometallism in US English:
monometallism
nounˌmänōˈmedlˌizəmˌmɑnoʊˈmɛdlˌɪzəm
See monometallic
Example sentencesExamples
The monetary system of western Europe had evolved towards monometallism, at first based on an increasingly debased gold coinage and in due course on silver.