"La monnaie papier a eu dans votre état l'effet qu'elle aura toujours, de ruiner le commerce, d'opprimer les honnêtes gens et d'ouvrir la porte à toutes sortes de fraudes et d'injustices."
— George Washington
Simplified Meaning:
When a country relies heavily on paper money, it can lead to several problems. First, it can damage business and trade because the value of paper money can change quickly and become unreliable. This makes it difficult for business owners to plan for the future and may cause them to lose money. Honest people who work hard can suffer because their earnings might lose value, making it harder for them to save or buy things they need. Furthermore, the use of paper money can create opportunities for dishonest individuals to cheat others. For example, during periods of inflation, when the value of money drops significantly, some people might manipulate prices or engage in fraudulent activities to benefit themselves. This creates a situation where just and fair people, who follow the rules, are at a disadvantage compared to those who exploit the economic instability. In essence, heavy reliance on unstable paper money can destabilize the economy, harm sincere workers, and give rise to various forms of corruption and unfair practices. To avoid these issues, a stable and trustworthy economic system is crucial. For instance, in history, societies that relied too much on printing paper money often faced economic crises, proving that maintaining a balanced and honest financial system benefits everyone.