The idea that the power of the country is measured in terms of its gold and silver is called

The idea that the power of a country is measured in gold and silver is a key component of mercantilism. Mercantilism was an economic philosophy that was popular among European nations from the 16th to 18th centuries, which basically though that countries should seek to maximize trade, and try to export more than they imported. The wealth of a country was measured in gold and silver, and the goal of nations was to acquire as much as possible.