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Re-examination of the Theoretical and Historical Evidence Concerning Colonial New Jersey’s Paper Money, 1709–1775: A Further Comment on Grubb

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  • Ronald W. Michener

Abstract

In a previous comment regarding Farley Grubb’s 2016 Journal of Economic History article on the monetary history of colonial New Jersey, I outline many fatal flaws in his empirical analysis. In his rejoinder, Grubb (2020) suggests that his article’s central contribution lies elsewhere, and hence is untouched by my critique. I turn, therefore, to a discussion of the many flaws in the theoretical analysis and historical evidence used in that article. I conclude by showing how Grubb (2020) manipulated quotations, using omissions, ellipses, and his own fanciful bracketed insertions to justify his alterations to the authoritative data of John McCusker, a central issue in my original comment.

Suggested Citation

  • Ronald W. Michener, 2020. "Re-examination of the Theoretical and Historical Evidence Concerning Colonial New Jersey’s Paper Money, 1709–1775: A Further Comment on Grubb," Econ Journal Watch, Econ Journal Watch, vol. 17(2), pages 305–332-3, September.
    • Handle: RePEc:ejw:journl:v:17:y:2020:i:2:p:305-332
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    More about this item

    Keywords

    United States history; British colonies; currency; redemption theory; monetary history;
    All these keywords.

    JEL classification:

    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
    • N21 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: Pre-1913
    • N41 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: Pre-1913
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

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