When not only gold but all commodities are available for the redemption of the paper currency, its volume is limited only by the value of all the wealth of the country, and it can never become insecure up to this limit.
At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.
Paper currency has hitherto been regarded with suspicion, as insecure.
There is never enough gold to redeem all the currency in circulation.
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