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CURRENCY. The money which passes, at a fixed value, from hand to hand; money which is authorized by law.
     2. By art. 1, s. 8, the Constitution of the United States authorizes congress "to coin money, and to regulate the value thereof." Changes in the currency ought not to be made but for the most urgent reason, as they unsettle commerce, both at home and abroad. Suppose Peter contracts to pay Paul one thousand dollars in six months-the dollar of a certain fineness of silver, weighing one hundred and twelve and a half grains-and afterwards, before the money becomes due, the value of the dollar is changed, and it weighs now but fifty-six and a quarter grains; will one thousand of the new dollars pay the old debt? Different opinion may be entertained, but it seems that such payment would be complete; because, 1. The creditor is bound to receive the public currency; and, 2. He is bound to receive it at its legal value. 6 Duverg. n. 174.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
"Taking into account the devaluation of national currencies in neighboring countries, an excessively strengthened manat rate may hamper the development of the real sector of the Azerbaijani economy," he said.
Earlier he said that historically CIS countries and the Eurasian Economic Union (EAEU) member-states rank the first in terms of settlements in national currencies with Russia, virtually followed by China.
Not only with Turkey and Iran, we're also arranging and already implementing payments in national currencies with the People's Republic of China," Lavrov said.
The officials met in St Petersburg to discuss how to raise the volume of mutual settlements in their respective national currencies. They also discussed what needs to be done when it comes to making settlements in national currencies between the two countries.
Both agreements are designed to create favourable conditions for developing reciprocal trade and direct investment to be made in their national currencies.
Russian President Dmitry Medvedev, also as expected, told the SCO summit that the Shanghai group member states should increase the share of their national currencies in mutual settlements to reduce dependence on the dollar and improve the health of the global financial system.
This has taken place most notably in Europe where the euro has replaced national currencies. In the Americas, a campaign of dollarization --pegging native currencies to or replacing them with the U.S.
Other members of the European Union, including the United Kingdom, Denmark, and Sweden, have opted to keep their national currencies.
dollars reflect the underlying national wage and benefit trends measured in national currencies, as well as frequent and sometimes sharp changes in currency exchange rates.
Will I be able to change the national currencies into euro?
An interim period from January 1st to February 28th 2002 will allow the use of both the Euro and old national currencies in all EMU countries.
But the "golden" name and the instant popularity of the new coin serve as a reminder of the valuable role that real gold has played throughout the centuries -- and still plays today -- in providing a stable foundation for national currencies.

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