Circulating Credit Instruments

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Circulating Credit Instruments

 

tokens of value that are part of the development of credit and act as a means of circulation and a means of payment. Unlike paper money, which is used primarily to finance state expenditures and cover budget deficits, circulating credit instruments are usually issued to meet the needs of turnover in the mediums of circulation and payment. Among the types of circulating credit instruments are promissory notes, checks, and bank notes.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.