不兑换纸币 meaning in English

[美国] (根据政府法令作为法币发行的不兑现纸币) fiat money

Of all the progressives who put forward a series of advices on using foreign fund for the sake of developing national economy . liang was outstanding for he gave a full consideration of the positve and negative effect of making use of foreign fun
梁启超主张实行虚金本位制，有条件时再过渡到金本位，他强调健全货币制度，并认为在当时发行不兑换纸币是不可行的。