The goldsmith in your town writes out a note saying, I will pay to the bearer of this note so much gold, and then the bearer could be anyone.

你居住城镇的金匠写下票据并承诺,我会付给持票人这么多数量的金子,任何人都可以是持票人

耶鲁公开课 - 金融市场课程节选

That means that the goldsmith would pay it to the bearer.

意指金匠会把金子付给持票人

耶鲁公开课 - 金融市场课程节选