circulating medium

“She has neither broken down the Bank of England nor a paper currency, but she has changed an irredeemable paper circulating medium into gold and silver for all sums under $25; and her $25, and higher denominations of bank notes are redeemable always in gold at the Bank of England, which is under an efficient supervision, including real publicity, and no safety-fund political machinery to mar its usefulness.”

Life and Opinions of Julius Melbourn; with Sketches of the Lives and Characters of Thomas Jefferson, John Quincy Adams, John Randolph, and Several Other Eminent American Statesmen