Members of the Currency School, however, regarded convertibility as an inadequate check to over issue. They feared that even a legally convertible currency would be issued to excess with the following unfortunate consequences: rising domestic prices relative to foreign prices; unfavorable balance of payments; weakened foreign exchange; gold outflow; depletion of gold reserves; and ultimately, suspension of convertibility. The rate of reserve depletion would be accelerated they noted, if the external gold drain coincided with an internal drain as domestic residents, alarmed by the possibility of suspension, sought to convert paper current into gold.