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Had in case of the free reference ". The first footnote is especially interesting also
On p. 102 where Menger specifies that during first half 19th
Centuries in this respect there was almost full unity of opinions among
Liberal economists, whereas in second half under the influence of lawyers
(Apparently, German) economists have wrongly started to consider legal
tender as attribute of perfect money.>
To it lord Farrer adds some lines, that any law about
Lawful means of payment by the nature "is suspicious" .
"Lawful means of payment" as an uncertainty source
The true consists that "legal tender" is simply permitted by the law
Means to force people to accept in payment under the contract something that they not
Were going to to accept, when concluded the contract. Under some circumstances
It becomes the factor strengthening uncertainty of business operations and
Consists, as lord Farrer "has noticed thereupon... In substitution of the free
The conclusions of voluntary contracts and the law, simply obliging to observe
Conditions of such contracts, an artificial design, which never
Would come to mind to the parties if it was not imposed to them by any law ".
All it is clearly visible on an example of that historical period, when expression
"legal tender" it began to be applied widely as definition of money. On
Notorious "processes about a lawful instrument of payment" in the Supreme Court
The United States after Civil war, there was a question on, whether should
Creditors to accept dollars on a current rate "dollar for dollar" on account of
The money lent when the dollar had much higher value
Brooklyn, 1950, pp. 586 - 592>. The Same problem became even more sharply in the end of an epoch
Great European inflations after the First World War, when, even in the extreme
Case with DM, a principle "the stamp is the stamp" was applied to most
The end - though some attempts to offer the limited later have been undertaken
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