On the record
The only way by which moneys of different kinds and intrinsic values can be maintained in circulation at par with each other is by the ability, when one kind is in excess, to readily exchange it for the other.
Source
gutenberg.orgThe only way by which moneys of different kinds and intrinsic values can be maintained in circulation at par with each other is by the ability, when one kind is in excess, to readily exchange it for the other.
Sherman explains the necessity of maintaining par value among different types of money through exchangeability.
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