Bullionism

Bullionism is an economic theory that defines wealth by the amount of precious metals owned.^[1] Bullionism is an early and perhaps more primitive form of mercantilism.^{[citation needed]} 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.

^ Kindleberger, Charles P. (3 June 2015). A Financial History of Western Europe. Routledge. p. 33. ISBN 978-1-136-80578-3.

[1] Kindleberger, Charles P. (3 June 2015). A Financial History of Western Europe. Routledge. p. 33. ISBN 978-1-136-80578-3.

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