present standard of value
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 294 U.S. 330 - Perry v. United States · 1935Most cited · 638 citing opinions
The 'present standard of value' stood in contradistinction to a lower standard of value. The promise obviously was intended to afford protection against loss. That protection was sought to be secured by setting up a standard or measure of the government's obligation. We think that the reasonable import of the promise is that it was intended to assure one who lent his money to the government and took its bond that he would not suffer loss through depreciation in the medium of payment.