In the late 18th and early 19th centuries, paper money and bank notes spread widely. The bulk ofthe money in use came to consist not of actual gold or silver but of fiduciary money--promises to payspecified amounts of gold and silver. These promises were initially issued by individuals or companiesas bank notes or as the transferable book entries that came to be called deposits. But gradually the stateassumed a role. From fiduciary paper money promising to pay gold or silver, it is a short step to fiat paper money--that is,notes that are issued on the "fiat" of the sovereign, are specified to be so many dollars or francs or yen. The first large-scale issue in a Western country occurred in France in the early 18th century (though there are reports of paper money in China many centuries earlier). Later, the French revolutionary government issued paper money in the form of assignats from 1789 to 1796. The American colonies and later the Continental Congress issued bills of credit that could be used in making payments. These early experiments gave fiat money a deservedly bad name. The money was overis- sued, and prices rose drastically until the money became worthless or was redeemed in metallic money at a small fraction of its initial value.
    Subsequent issues of fiat money in the major countries during the 19th century were temporarydepartures from a metallic standard. In Great Britain, for example, payment of gold for the outstand-ing bank notes was "suspended" during the Napoleonic Wars (1797--1815). As a result, gold coinand bullion became more expensive in terms of paper. Similarly, in the United States during the CivilWar, convertibility of Union currency (greenbacks) into gold was suspended, and resumption did notoccur until 1879. At its peak, in 1864, the greenback price of gold, nominally equivalent to $100,reached more than $ 250.
閱讀理解
    1. Which kind of money is issued by government, fiduciary paper money or fiat money?
    2. What does "overissue" in paragraph 1 mean?
    3. According to the passage, first kind of large scale money issue by government occurs in_______
    4. What is the name of American paper bill?
    5.During American Civil War, when the value of gold reached its highest point, it may increase________times in terms of paper bill

閱讀理解
    1. bulk 大小，體積，大批，大多數
    2. fiduciary 基于信用的，信托的，受信托的
    3.transferable 可轉移的，可轉換的，可傳遞的
    4. deposit 沉淀物，存款，押金，保證金
    5. fiat 命令，法令，許可，批準
    6. issue 出版，發行
    7. assignat 法國大革命時期(1789-1796)發行的紙幣
    8. credit 信任，信用，[財務]貸方，銀行存款；
    9. overissue (貨幣，公債等的)過度發行，濫發，限外發行；
    10. redeem 贖回，挽回，恢復，補償，兌換 Il.departure 啟程，出發，離開
    12. Napoleonic 拿破侖一世的 13. bullion 金銀，銀條，金塊
    14. greenback 美鈔
    15. resumption 恢復，再開始，重獲，(中斷后)再繼續
難句翻譯
    1．From fiduciary paper money promising to pay gold or silver，it is a short step to fiat paper money-that is，notes that are issued on the“fiat”of the sovereign，are specified to be so many dollars or francs or yen.
    從許諾支付黃金和白銀的信用紙幣到不兌現紙幣經歷的只是很小的一步。所謂的不兌現的紙幣是指政府批準發行的貨幣，如具體的美元、法郎和日元等各種貨幣。
    2．The money was overissued，and prices rose drastically until the money became worthless or was redeemed in metallic money at a small fraction of its initial value．
    如果貨幣發行過度，物價就會急劇上升，直到貨幣變得沒有任何價值，或者只值貨幣當初發行時的一點點。
    3．At its peak，in l864，the greenback price of gold，nominally equivalent to $100，reached more than $250．