Gold
It is even better if the bank buys the commercial bill by paying out gold coins or by issuing promissory notes. The former can be ruled out on the grounds discussed before: the seller of the bill will convert coins into notes immediately for practical reasons.
Gold
It is even better if the bank buys the commercial bill by paying out gold coins or by issuing promissory notes. The former can be ruled out on the grounds discussed before: the seller of the bill will convert coins into notes immediately for practical reasons.
