As regards currency inflation, Turgot saw that the issue of paper money beyond the point where it is convertible into coin is the beginning of disaster — that a standard of value must have value, just as a standard of length must have length, or a standard of capacity, capacity, or a standard of weight, weight.It still remains one of the best presentations of this subject ever made; and what adds to our wonder is that it was not the result of a study of authorities, but was worked out wholly from his own observation and thought.
Anne Robert Jacques Turgot