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More constant. Further, I would explain to public that completely I realise that
I can hope to save the it in circulation, only if I will execute the
The obligation about almost constant real value it. I would declare
Also that I assume to establish the exact commodity from time to time
Equivalent in which terms I intend to support value it
Constant, reserving the right, after the preliminary message,
To change structure of the commodity standard according to the got experience and
The revealed preferences of public. Though acceptance by bank of issue
Legal obligations on maintenance of constant value of the monetary
Units it is not represented neither necessary, nor desirable, it should,
However, in the credit contracts specially to stipulate that any loan
Can be extinguished or on a face-value in own currency of bank,
Or the corresponding sums of other currency or currencies, sufficient for
To buy in the market a commodity equivalent which was used in
Quality of the standard at the moment of credit granting. As the bank should
To let out the currency basically by granting of credits, and borrowers
Formal possibility of that can quite frighten off bank any way
Will lift value of the currency, they should be evidently protected from this
Such certificates and bills, or credits equivalent to them in the non-cash form
Become accessible to public by means of granting of short-term loans
And-or their sales for other currencies. It will be, possibly, from the very beginning
To be on sale with the award over value of any of currencies for which they can be
Are bought, owing to presence of the option which they personify. On
The award should a measure of falling of real value of these governmental currencies
Will increase. Real cost it at the price on which they were
Are sold for the first time, should serve as the standard which to the emitter should be saved
To constants. If existing currencies still depreciate (and
Availability of a reliable alternative variant can quite accelerate this
Process) demand for stable currency should increase quickly and soon
There will be the competitor firms offering the similar monetary
Units, but, naturally, with other names.
Sale should become the main form of release of new currency originally,
Carried out regularly or at auctions. After formation
The regular market the currency will be released only by means of
Usual bank operations, that is through short-term crediting.
Constant, but not fixed value
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