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That meant the paper money was worth a certain amount of gold.
Under the gold standard, you could go to a bank, give them your paper money, and ask for gold.
When paper money was invented, it was often with a gold standard.
But the public would dispose of paper money whenever further emissions threatened the value of the peso.
Signs, posters, newspapers, handbills, banners and paper money all contributed, he argues, to a kind of impersonal authority well suited to a city of strangers.
Corrientes unsuccessfully issued paper money in 1826, 1827 and 1841.
Near-permanent warfare enlarged fiscal deficits and the currency expansion used to finance them induced paper money depreciation.
From 1826 taxes were paid in paper money, and their collection was extremely inefficient given the contemporary administrative disorder and political strife.
Inconvertible paper money became an actual fiduciary currency, and the means of payment for domestic transactions in the province.
I of course am not claiming that paper money or stock trading did not exist prior to the nineteenth century.
Each colony had issued its own paper money in the form of bills of credit.
There was no way to avoid some involvement with depreciated paper money dealings.
Even before the advent of paper money, governments had worked hard to reduce various forms of uncertainty associated with monetary assets.
Regional trade united the city to its rural environs, increasing demand for domestic manufacturers and paper money, and enlivening colonial discussions of the potential for commercial autonomy and self-regulation.
She is now someone who reads yet relies upon paper money as a fictional romance of imitation and substitutability, who understands the unpredictability of value under speculation.
After all, if it is not at all clear which is the gold standard, text or the real, paper money or gold, the very possibility of a referent is compromised.
When vegetables and grain had different seasonality (the cycle of harvest and slack season), demands for copper and paper money would vary between the upper- and lower-level markets.
The paper money has been taken up freely, it circulates at par, and it has not been circulated under pressure at all.
