Obligation to exchange; obligation to convert

In countries with a precious metal currency, the legal requirement that an institution issuing banknotes must exchange this paper money for gold or silver at the request of anyone – “without verification of identity,” according to the clause on the old banknotes.

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/