Real bills doctrine

• abstract: The real bills doctrine asserts that money should be issued in exchange for short-term real bills of adequate value. It is best known as "the decried doctrine of the old Bank Directors of 1810: that so long as a bank issues its notes only in the discount of good bills, at not more than sixty days' date, it cannot go wrong in issuing as many as the public will receive from it.

以上来源于: WordNet