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单词 gold clause
释义

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gold clause
gold clause n. a clause in a loan agreement or financial contract between governments, businesses, or private individuals, stipulating that repayments must be made in the gold equivalent of the currency involved at the time either the agreement or the loan was made.The purpose of a gold clause, used esp. during the era of the gold standard, is to protect the lender or creditor against a fall in the borrower's currency.
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1862 Daily Herald & Mirror (San Francisco) 24 Oct. Commission men and importers have been and are still doing everything to secure themselves against loss by inserting a gold clause in every note of hand they receive.
1935 Economist 19 Jan. 116/1 The clause..was quite definite, calling for payment in United States gold coin of the weight and fineness existing at the time of the issue of the bond... [Last year] Congress passed a resolution invalidating all ‘gold clause’ contracts.
2011 Globe & Mail (Canada) (Nexis) 14 Dec. Like the ‘gold clauses’ common during the era of the gold standard, such provisions would fix liabilities at a conversion rate to gold, or the dollar.
extracted from goldn.1adj.
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更新时间:2024/12/23 14:04:47