The Struggle to Obtain Specie - IIPM Knowledge Centre

Any attempt to subvert this process by giving such paper legal tender status – whether the obligations of a quasi-private, privileged monopoly, such as the Bank of England, or whether those of leviathan itself, as with the French assignats – was therefore rightly taken as a signal admission of financial stress. This would only tend to hasten the struggle to obtain specie, whatever the legal violence attendant upon such a ‘crime’.

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Source :- IIPM Editorial, 2006