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Gradual occurrence of the governmental paper money, and soon and banknotes,
As long time the problem consisted not in occurrence of new kinds of money with
Various face values, and in use as money of paper bills on
Reception of the certain sum of the legalised metallic currency which is let out on
To basis of the governmental monopoly.
Possibly, it would be impossible to achieve, that leaflets of a paper or others
The slices of a material which do not have in itself significant market value, steel
Gradually standard money if they did not represent the receipt
On any valuable subject. To be accepted as money, they
Should gather in the beginning the value from any other source,
Such, as, for example, convertibility in other kind of money. Thereof
Gold, silver and receipts on their reception long time remained
Unique kinds of money between which the competition was possible. Because of
Sharp falling of value of silver in itIX century the last has ceased to be serious
The competitor to gold
Political and technical possibilities of the control over paper money
However, the situation has changed radically, when universal circulation
Began to have paper money. While a metallic currency dominated,
The governmental monopoly was harmful enough. But it became irreparable
Disaster since paper money (or other money-signs), which
Can be as the best, and the worst money, have got under the political
The control. The money, which offer it is meaningly supervised by agency,
Whose interest forces it to satisfy requirements of users, can be
The best variant. Money which manipulate for the sake of satisfaction
Group interests, are doomed to be worst of possible .
Value of paper money can be regulated on the basis of number application
Principles. It is represented obvious though we consider extremely
Doubtful, that any democratic government from the unlimited
The power could cope with this problem well. On the first
The sight, historical experience confirms belief that only gold can
To provide stability of monetary unit and that sooner or later all types
Paper money are doomed to depreciation. All our researches of processes,
Money defining value, speak, what is it a prejudice which does not have any
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