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The Issue of Paper Money in the American Colonies, 1720–1774

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  • Weiss, Roger W.

Abstract

Every generation has interpreted the monetary experience of the colonies in the light of its own problems. The Jacksonian period produced the interpretations of Gouge just as the silver controversy of the 1890's produced the work of Bullock and Davis. The reaction to the financial fundamentalism of the 1890's came largely from the work of R. A. Lester and the unpublished but celebrated work of L. Brock in the late thirties and early forties, heavily influenced by the experience of the depression. From the latter two, a new orthodoxy has emerged among American historians, under the authority of E. James Ferguson, whose important recent study, The Power of the Purse, defends the paper money currencies of the colonies by a well-reasoned appeal to the modern fiscal practice of financing war by inflation.

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  • Weiss, Roger W., 1970. "The Issue of Paper Money in the American Colonies, 1720–1774," The Journal of Economic History, Cambridge University Press, vol. 30(4), pages 770-784, December.
    • Handle: RePEc:cup:jechis:v:30:y:1970:i:04:p:770-784_10
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    Cited by:

    1. Ronald W. Michener & Robert E. Wright, 2006. "Farley Grubb’s Noisy Evasions on Colonial Money: A Rejoinder," Econ Journal Watch, Econ Journal Watch, vol. 3(2), pages 251-274, May.
    2. Bordo, Michael D., 1986. "Explorations in monetary history: A survey of the literature," Explorations in Economic History, Elsevier, vol. 23(4), pages 339-415, October.

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