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A private money system with real bills and gold standard is preferable to a fiat money system under government control.

Real bills are bills of exchange issued in payment of the delivery of goods or services, payable no later than 3 months' time. The holder can get it discounted against bank notes (sight bills), the bank can re-discount it with the central bank (currently for fiat money, formerly for gold coin).

https://ideas.repec.org/p/fip/fedmsr/64.html

https://www.alt-m.org/2015/10/13/the-real-bills-doctrine-a-short-response/

https://katalepsisblog.wordpress.com/2015/07/20/liquidity/