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It is the legal tender, with the knowledge that it can easily be repassed for the same value, that makes three-pennyworth of silver pass for sixpence.
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gutenberg.orgBenjamin Franklin: “It is the legal tender, with the knowledge that it can easily be repassed for the same value, that makes…”
Editor's note · Context
Franklin discusses the concept of legal tender and its role in currency value.
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More from Benjamin Franklin
If the English would advance one step further, or cover themselves where they are, it must be at once, by one large step over the mountains, with a numerous and military colony.
But when Britain values herself as affording us protection, we desire it may be considered, that we have followed her in all her wars, and joined with her at our own expence against all she thought fit to quarrel with.
I have seen generations born, flourish, and expire.
II. p. 118.--The truth is, that the Indians considered their lands as mere hunting-manors, and not as farms.
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