User Group with Shadow Icon
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Even more often and will be compelled to accept payments not in those currencies, which
Are issued by exclusive national banks, and even to aspire to them
Possibility of occurrence of set of similar currencies
There is, however, one circumstance, being both possible, and probable,
And which I did not discuss in the first edition. After certain currencies,
Based on this or that set of the goods, will receive wide circulation, others
Banks can resort to release of the currencies which value is based on the same
Set of the goods, but under other names, in banknotes with same, big
Or smaller face value. Differently, the competition can lead to the wide
To use of same commodity base by various banks-emitters,
And such banks will continue to compete for favour of public,
Saving value of let out currency of a constant and rendering other services.
Public could then to learn to accept considerable number of kinds such
Currencies with various names under constant exchange rates; and
Shops could hang out the list of all currencies which they are ready to accept,
As representing this standard. Such system can is satisfactory
To work long time if the press which is carrying out the function of supervision, is
In time to warn public about infringement by someone from the emitters
Convenience reasons should, possibly to lead to acceptance of the standard
Monetary unit, that is unit based not only on same
Set of the goods, but also one dimension. In this case the majority of banks
Could, under different names, let out banknotes in these standard
Units which willingly will be accepted everywhere where their reputation is known.
Save the standard of long-term promissory notes even at the possible
To loss by currency of the value
At availability at least any stable currencies on disappearance will be
Absurd practice of transformation of "lawful means of payment" is doomed in
Simple symbolical coin which can depreciate and still to remain
Suitable for payment of the debts made in terms of any object
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