The Paper Moneys of Europe
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In our eReader you can find the full English version of the book. Read The Paper Moneys of Europe Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Paper Moneys of Europe
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Charles J. Bullock has described in sufficient detailthe "carnival of fraud and corruption" which attended the paper moneycoined or rather printed by most of the American colonies in thecentury preceding the American Revolution. Thus, about the middle ofthe eighteenth century, the paper money of Massachusetts fell to aneighth of its original value. People were driven to barter, and onewriter observed that "the morals of the people depreciate with thecurrency. " Parties were divided into debtors... and creditors, and a NewEngland writer in 1749 noted: "The Debtor side has had the ascendantever since anno 1741 to the almost utter ruin of the country. "[6] Tothis writer belongs the credit of discerning, at a time when evenBenjamin Franklin was in error, that "the repeated large emissions ofPaper Money" were responsible for its depreciation.
[5] Macmillan, 1900.
[6] Douglass.
"Not worth a Continental" is an expression which brings us to the nextchapter in American experience of inconvertible paper currencies.
What to read after The Paper Moneys of Europe?
You can find similar books in the "Read Also" column, or choose other free books by Hirst Francis Wrigley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Charles J. Bullock has described in sufficient detailthe "carnival of fraud and corruption" which attended the paper moneycoined or rather printed by most of the American colonies in thecentury preceding the American Revolution. Thus, about the middle ofthe eighteenth century, the paper money of Massachusetts fell to aneighth of its original value. People were driven to barter, and onewriter observed that "the morals of the people depreciate with thecurrency. " Parties were divided into debtors... and creditors, and a NewEngland writer in 1749 noted: "The Debtor side has had the ascendantever since anno 1741 to the almost utter ruin of the country. "[6] Tothis writer belongs the credit of discerning, at a time when evenBenjamin Franklin was in error, that "the repeated large emissions ofPaper Money" were responsible for its depreciation.
[5] Macmillan, 1900.
[6] Douglass.
"Not worth a Continental" is an expression which brings us to the nextchapter in American experience of inconvertible paper currencies.
What to read after The Paper Moneys of Europe?
You can find similar books in the "Read Also" column, or choose other free books by Hirst Francis Wrigley to read onlineMoreLess
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