Cash and a pair of scissors, 100 years ago

Source: Notes On Liberty
by Michalis Trepas

“Meetings are a waste of time, most of time. A rare exception played out in 1922, at the Greek Prime Minister’s office. After discussing his fruitless efforts to secure funding from European governments, the PM dismissed his confidantes to remain alone with the Economy minister. … He proceeded with explaining his cunning plan with a sketch, which he replayed a month later, in front of the Parliament. Using a pair of scissors, he cut a 100 Drachmae banknote in half. This, he said, holding the first half (which bore the picture of Georgios Stavros, the founder of the central bank), is money, now worth 50 Drachmae. The other half (which depicted the royal crown) is now a bond, a loan to the State, also of 50 Drachmae.” (09/11/22)

https://notesonliberty.substack.com/p/cash-and-a-pair-of-scissors-100-years