Difference between revisions of "Bills of credit"
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Bills of credit today are dollar bills. | Bills of credit today are dollar bills. | ||
| − | More generally, | + | More generally, bills of credit are non-interest-bearing promissory notes issued by the government. They are promises to pay the specific denomination indicated to the bearer upon demand. |
Revision as of 23:38, January 19, 2007
Bills of credit today are dollar bills.
More generally, bills of credit are non-interest-bearing promissory notes issued by the government. They are promises to pay the specific denomination indicated to the bearer upon demand.