In order for money to be both real and useful it should be secured by unencumbered interest in durable real property.
The simplest way to circulate commercial paper for daily transactions is the Benjamin Franklin paper money system which involves appointing public loan officers throughout a nation to issue equity loans to anyone in possession of unencumbered interest in durable real property which they are willing to pledge as collateral which the public can auction in the event of non-payment.
This way money is placed in circulation so that the interest paid for the first use of legal tender is publicly collected and immediately spent back into the economy and so that the total quantity of money expands dynamically in proportion to the aggregate quantity of physical durable capital.
The simplest way to circulate commercial paper for daily transactions is the Benjamin Franklin paper money system which involves appointing public loan officers throughout a nation to issue equity loans to anyone in possession of unencumbered interest in durable real property which they are willing to pledge as collateral which the public can auction in the event of non-payment.
This way money is placed in circulation so that the interest paid for the first use of legal tender is publicly collected and immediately spent back into the economy and so that the total quantity of money expands dynamically in proportion to the aggregate quantity of physical durable capital.