paper money


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Related to paper money: fiat money, plastic money, Commodity money
See: check, currency, debenture, instrument

PAPER MONEY. By paper money is understood the engagements to pay money which are issued by governments and banks, and which pass as money. Pardes. Dr. Com. n. 9. Bank notes are generally considered as cash, and win answer, all the purposes of currency; but paper money is not a legal tender if objected to. See Bank note, Specie, Tender.

References in periodicals archive ?
Northanger Abbey appears to break down the economic crisis resulting from the paranoia about paper money into terms everyone can readily understand, into the domestic economics of a wealthy man with a large family.
The equivalent of silver ingots in paper money is mentioned, but not actual silver.
In ways to which most historians only aspire, Mihm compels economists and social scientists to appraise the cultural impact of paper money, while social and cultural historians are forced to assess the political economy of currency.
In the latter half of the nineteenth century, the Supreme Court decided a series of cases that upheld the power of Congress to issue paper money and to make it legal tender for all debts.
Students in grade 2 or 3 will receive paper money throughout the year for good behavior, completion of homework, or improvement of test and quiz scores.
Paper money also constrain and cripple monetary policy by making it impossible for central banks to lower interest rates significantly.
But first, a short history of paper money for the interested reader.
However, these funds may still be substituted for New Generation Currency (NGC) paper money at the same amount at no charge to authorized bank agents and any BSP offices until August 1, 2019.
"Paper money is going away and crypto is a much better value for a transfer of value than pieces of paper but it has its pros and cons.
Secretary General of the Union of Arab Banks, Wisam Fattouh who also addressed the opening sitting and said that the world is witnessing a rapid transition from cash to cashless economy and from paper money to electronic money, stressing that reliance on technology is crucial to reduce financial crises.
Of the 142 exhibits transferred to the museum, 36 are coins, the rest are paper money and bonds.
The Chinese were the first to issue paper money then banknotes became popular during the 18th and 19th century, although many private banks issued too many and were unable to cash them in when presented, resulting in a run on the banks concerned.