Debasement refers to the deliberate reduction of the value or quality of currency by lowering its metal content or purity. Historically, debasement was a common practice used by governments to increase the supply of money without corresponding increases in value, often to finance government spending or alleviate debt. By reducing the precious metal content of coins, such as gold or silver, governments could mint more coins from the same amount of metal, thereby increasing the money supply. However, debasement typically led to inflation and a decline in the purchasing power of currency, as coins became less valuable due to their reduced metal content. Debasement has been widely practiced throughout history, but it has also been associated with economic instability and loss of public trust in currency.
A right to use the land of another for a specific purpose, such as for a right-of-way or utilities.
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This glossary post was last updated: 29th March 2024.
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