Sentence Examples

  • The first of these mistakes was a measure making (January 1885) the currency inconvertible for a period of two years.
  • Instead of facing the difficulties, the president preferred to put off the day of reckoning by flooding the country with inconvertible notes, with the result that the financial crisis became more and more aggravated.
  • On the 31st of August of the same year a series of proposals upon the currency question was submitted to congress by the president, whose real object was to counteract the too rapid appreciation of the inconvertible paper money.
  • The success of the issue was undoubted, and, possibly, if the assignats had been restricted, as Mirabeau at first desired, to the extent of one-half the value of the lands sold, they would not have shared the usual fate of inconvertible paper money.
  • In 1878 depreciation had set in, and the inconvertible paper had by the close of 1881 grown to such an extent that it was then at a discount of 80% as compared with silver.