Page:Georg Freidrich Knapp - The State Theory of Money (1924 translation).pdf/91

Rh uncertain as to the nature of the means of paymentand makes inconsistent ordinances. Traces of a relapse into the pensatory system can be found long after the Chartal system is in force.

Among these are the regulations as to least current weight. In the German Empire, least current weight has been abolished in the case of all paratypic coins. However diminished in weight, the thalers are always worth three marks, as long as they are at all recogisable; and so with the silver, copper and nickel oins of the German Empire. This is absolutely right nder the Chartal system of currency, where validity independent of content. On the other hand, for rthotypic money (gold coins) least current weight is etained. If the loss of weight in these pieces is more an ½ per cent., they are no longer valid in private irculation.

The least current weight is therefore 99½ per cent. the prescribed weight. This is a quite unnecessary lapse into the pensatory system. If the Chartal stem is intended to abolish weighing, what is the eaning of this regulation, which again calls in the ales?

Obviously it is to assure to the private person in y case a "real" satisfaction, if only to that small tent. The rule, however, is completely superfluous, r, quite rightly, in Germany the State remains bound take even the most worn pieces as if of full weight  e. according to their validity by proclamation.