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Certain value. This absurdity is created exclusively by the power of the government,Having possibility to impose to people what they did not mean at
The conclusion of contracts. After cancellation of the governmental monopoly for issue
Money courts soon will understand and, I hope, the legislation recognises that
Justice demands payment of debts in terms of that value, in which
Instead of the contract consisted in the substitutes imposed by the government.
Exists there where the contract in the obvious form provides payment Certain quantity of bank notes, instead of the value expressed in them>. After distribution of everywhere preferred general standard of value, Courts, as a rule, cannot define approximate size Abstract value which the parties meant at the conclusion of the contract,
Operating with the quantity of the standard monetary units specified in the contract. If
The currency in which the contract is concluded, has seriously depreciated, leaving for
Comprehensible limits of deviations, court should not allow to the parties to win or
To lose from illegal actions of the third party which has let out given currency.
The court without effort can define quantity of other currency or currencies, in which
The debtor has the right and is obliged to carry out of the obligations.
As a result even full breakdown of one currency will not have those destructive and
Far-reaching consequences which similar event calls today. Though Holders of cash in the form of banknotes or deposits poste restante in that Or other currency can lose all value corresponding to them, it will be Rather small frustration in comparison with the general depreciation or full
Liquidation of requirements of the third parties expressed in this currency. Structure
Long-term contracts as a whole remains not mentioned and people will save
The investments in the form of bonds, mortgage and similar requirements, though
They can lose all cash if, by misfortune, used Currency of bank which has failed. A portfolio of bonds and other long-term Requirements could remain quite reliable premise of the capital still,
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