These two propositions seem almost too obvious to require the statement, but they contradict the quantity theory, and they are not, on the surface, reconcilable with certain facts in the history of inconvertible paper money.
In such a condition of affairs, inconvertible paper would be an impossibility, as much as a bill of sale for a human being.
I am now brought to the last branch of this discussion, in which all the others are absorbed: I mean the necessity of specie payments, or, in other words, the necessity of coin in the place of inconvertible paper.
Inconvertible paper, deranging the business of the country at home and abroad, had the same monstrous birth.
An inconvertible paper which is legal tender is universally admitted to be money; in the French language the phrase papier-monnaie actually means inconvertibility, convertible notes being merely billets à porteur.
What determines the value of an inconvertible paper money?
He, too, testified in favor of inconvertible paper.
But convertible paper is not value itself; it is only the representative of value; while it is doubtful if inconvertible paper can be called the representative of anything in particular.
Would you recommend the issue of an inconvertible paper currency, with the view of remedying the evils which you describe?
But this truth does not make an inconvertible paper a good money, because it does not make it a self-regulating money, and because government is not wise and firm enough to fix and maintain a proper limit.
No matter how good the cause, how patriotic the People, an inconvertible paper money is sure to run down at the heel.
To all these causes of poverty there was added the hopeless confusion due to an inconvertible paper currency.
The above list will hopefully provide you with a few useful examples demonstrating the appropriate usage of "inconvertible paper" in a variety of sentences. We hope that you will now be able to make sentences using this group of words.
