U.S. Currency History
Number of pages:
5
ABSTRACT:
A 5 page paper discussing the development of the current US system of currency and legal tender. In Colonial days, the formal currency was that of Britain and was based on silver. The shortage of silver combined with the need to trade with the native Americans who preferred wampum resulted in wampum being the currency of choice for decades until a New Jersey factory became so efficient in its production that it became hyperinflated. The paper discusses the influences of greenbacks and the role filled by the 1848 California gold rush in directing the US away from bimetallism and toward a gold standard, which eventually was abandoned in the 1930s. Bibliography lists 4 sources.
FILE NAME:
File: CC6_KSwampum.doc
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