Word: fiat
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Currency will be kept on the gold standard. The Bonus, with payment in fiat money, will not get by. In general the financial policy of the Democrats will be not to inflate currency but to scale down debts by indirect means...
...unthinkable that the Government should resort to the printing press and the issuance of fiat currency. Such an act of moral bankruptcy would depreciate and might ultimately destroy the value of every dollar in the United States. It would cause the collapse of all confidence and bring widespread ruin. Daniel Webster, 100 years ago, stated...
...take permanent possession of the Schneider Trophy last year without a struggle. But the Italian Air Force has ever since had its eye on the record of 408.8 m.p.h. held by Lieut. George H. Stainforth. To attack that record, the air force developed a Macchi seaplane powered by two Fiat 1,500 h.p. engines in tandem. To fly it. Air Minister Italo Balbo delegated a new pilot named Neri, a minuscule man whose exploits since he joined the force a short time ago earned him the nickname "Death Cheat...
...violence, always only implied, but ever present, has everywhere extorted food and shelter from the communities through which the veterans are passing. As a result of their efforts they are securing a vote in Congress on their pet bill, which calls for payment of $2,400,000,000 in fiat money as bonus; it is not inconceivable that these men may be able to make a raid on the Treasury, in one way or another...
...common sense. Mr. Dawes had been summoned before the House Ways & Means Committee to give his opinion on the Patman bill to pay off the Soldier Bonus by an inflationary issue of $2.400,000,000 in new currency. He gave the proposition short shrift. Said he: "This issue of fiat money would undermine the credit of the country . . . and shake the soundness of the United States Government itself. It's an invitation to start on the primrose path Germany followed until her mark went down. . . . Look out when you tamper with the soundness of your currency. These Bonus bonds...