Okay, let’s take Rome. Rome did issue metal currency denominated in its unit of account and accepted it back as tax payment. Coins were melted down upon receipt and then reissued. That’s debt issuance. Acceptance of the currency as payment was also aggressively prosecuted by the State. Even raw Roman currency (denarius) did not trade at the value of bullion.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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