Debasement the intrinsic value of the coinage and so more coins can be made with the same quantity of precious metal. If done too frequently, debasement may lead to a new coin being adopted as a standard currency, as when the Ottoman Akçe was replaced by the kuruş (1 kuru = 120 akçe), with the para (1/40 kuruş) as a subunit. The kuruş in turn later became a subdivision of the lira. Debasement Debasement is the practice of lowering the value of currency. It is particularly used in connection with commodity money such as gold or silver coins. A coin is
What Has Government Done to Our Money? What Has Government Done to Our Money? What Has Government Done to Our Money? is a 1963 book by Murray N. Rothbard that details the history of money, from early barter systems, to the gold standard, to present day systems of paper money. Rothbard explains how money was originally developed, and why gold was chosen as the preferred commodity to use as money. The essay, "What Has Government Done to Our Money?" was written by Rothbard as an objective historical account with a provocative title. In contrast, "The Case for a 100 Percent Gold Dollar" was an essay with an