Author: William A. Bomberger
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
In the summer of 1861, the United States embarked on its first widespread use of paper money: the Demand Notes of 1861. Although their convertibility into gold ended at the end of that year, they remained acceptable for tariff payment at a par with gold coin while they were gradually replaced with paper money that did not share this provision, the Greenbacks. We present daily observations of exchange rates between the Notes, Greenbacks, and gold for the extended period during which they simultaneously circulated. These exchange rates substantiate our revisionist notion that the Notes were replaced because the tariff provision prevented them from generating sufficient seigniorage for wartime needs.
Seigniorage, Legal Tender, and the Demand Notes of 1861
Author: William A. Bomberger
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
In the summer of 1861, the United States embarked on its first widespread use of paper money: the Demand Notes of 1861. Although their convertibility into gold ended at the end of that year, they remained acceptable for tariff payment at a par with gold coin while they were gradually replaced with paper money that did not share this provision, the Greenbacks. We present daily observations of exchange rates between the Notes, Greenbacks, and gold for the extended period during which they simultaneously circulated. These exchange rates substantiate our revisionist notion that the Notes were replaced because the tariff provision prevented them from generating sufficient seigniorage for wartime needs.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
In the summer of 1861, the United States embarked on its first widespread use of paper money: the Demand Notes of 1861. Although their convertibility into gold ended at the end of that year, they remained acceptable for tariff payment at a par with gold coin while they were gradually replaced with paper money that did not share this provision, the Greenbacks. We present daily observations of exchange rates between the Notes, Greenbacks, and gold for the extended period during which they simultaneously circulated. These exchange rates substantiate our revisionist notion that the Notes were replaced because the tariff provision prevented them from generating sufficient seigniorage for wartime needs.
A History of the Canadian Dollar
Author: James Powell
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 124
Book Description
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 124
Book Description
A History of American Currency
Author: Sumner Sumner
Publisher: Ludwig von Mises Institute
ISBN: 1610160746
Category :
Languages : en
Pages : 401
Book Description
Publisher: Ludwig von Mises Institute
ISBN: 1610160746
Category :
Languages : en
Pages : 401
Book Description
The Rise and Fall of the Gold Standard
Author: Sir Charles Morgan-Webb
Publisher: Hassell Street Press
ISBN: 9781014744333
Category :
Languages : en
Pages : 208
Book Description
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Publisher: Hassell Street Press
ISBN: 9781014744333
Category :
Languages : en
Pages : 208
Book Description
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Power "to Coin" Money
Author: Thomas Frederick Wilson
Publisher: M.E. Sharpe
ISBN: 9780873327954
Category : Business & Economics
Languages : en
Pages : 292
Book Description
This book traces the history from colonial times to the present of the monetary powers exercised by the Congress under the Constitution. It follows the evolution of the American banking and monetary system from the perspective of specific provisions in the Constitution that authorize the government to coin money and regulate its value. The author critically examines how far the development of the contemporary money and banking system has pushed beyond the narrow powers spelled out in the Constitution. He shows how changes in congressional legislation, Supreme Court decisions on precedent-setting cases, and the evolution of central banking powers within the Federal Reserve System have expanded the scope of the federal government's monetary powers. Yet, the author views this history within the context of private limits to the authority of Congress and the Congress's distrust of lodging the central bank within the Executive branch, preferring instead to respect an independent central banking tradition. The Hamiltonian tradition, he concludes, still offers the best institutional arrangement to confront unstable markets and destabilizing political influence.
Publisher: M.E. Sharpe
ISBN: 9780873327954
Category : Business & Economics
Languages : en
Pages : 292
Book Description
This book traces the history from colonial times to the present of the monetary powers exercised by the Congress under the Constitution. It follows the evolution of the American banking and monetary system from the perspective of specific provisions in the Constitution that authorize the government to coin money and regulate its value. The author critically examines how far the development of the contemporary money and banking system has pushed beyond the narrow powers spelled out in the Constitution. He shows how changes in congressional legislation, Supreme Court decisions on precedent-setting cases, and the evolution of central banking powers within the Federal Reserve System have expanded the scope of the federal government's monetary powers. Yet, the author views this history within the context of private limits to the authority of Congress and the Congress's distrust of lodging the central bank within the Executive branch, preferring instead to respect an independent central banking tradition. The Hamiltonian tradition, he concludes, still offers the best institutional arrangement to confront unstable markets and destabilizing political influence.
Report of the Monetary Commission of the Indianapolis Convention of Boards of Trade, Chambers of Commerce, Commercial Clubs
Author: Indianapolis monetary commission
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 636
Book Description
Publisher:
ISBN:
Category : Currency question
Languages : en
Pages : 636
Book Description
Report of the Monetary Commission of the Indianapolis Convention ...
Report of the Monetary Commission of the Indianapolis Convention of Boards of Trade, Chambers of Commerce, Commercial Clubs, and Other Similar Bodies of the United States
The Purchasing Power of Money
A Brief History of Panics and Their Periodical Occurrence in the United States
Author: Clément Juglar
Publisher:
ISBN:
Category : Depressions
Languages : en
Pages : 176
Book Description
Publisher:
ISBN:
Category : Depressions
Languages : en
Pages : 176
Book Description