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The Tabular Standard in Massachusetts History

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  • Willard C. Fisher

Abstract

First suggestion of tabular standard erroneously credited to theorists, 417. — Found earlier in Massachusetts history, 419. — In an act of 1747, closing the struggle to adjust depreciated bills of credit, 425. — New movement starts in the Revolutionary period, 427. — Depreciation of bills and rise of prices distress soldiers, 430. — Failing to fix prices, States raises pay, 432. — Finally pay is raised in close conformity to computed rise of prices, 435. — A tabular standard printed on notes, 1780, 437. — The determination of the table, 439. — Imperfect administration, 441. — Scant returns of official prices, 443. — Notes refunded and law repealed, 446. — Adoption of table in other relations, 448. — Comment, 449. Appendix I, Table of Depreciation, 452; II, President Langdon's Account, 454; III, Fac-simile of a Note, 455.

Suggested Citation

  • Willard C. Fisher, 1913. "The Tabular Standard in Massachusetts History," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 27(3), pages 417-454.
    • Handle: RePEc:oup:qjecon:v:27:y:1913:i:3:p:417-454.
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    File URL: http://hdl.handle.net/10.2307/1883372
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    Cited by:

    1. Robert J. Shiller, 2002. "Indexed Units of Account: Theory and Assessment of Historical Experience," Central Banking, Analysis, and Economic Policies Book Series, in: Fernando Lefort & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Serie (ed.),Indexation, Inflation and Monetary Policy, edition 1, volume 2, chapter 4, pages 105-134, Central Bank of Chile.
    2. John Y. Campbell & Robert J. Shiller, 1996. "A Scorecard for Indexed Government Debt," NBER Chapters, in: NBER Macroeconomics Annual 1996, Volume 11, pages 155-208, National Bureau of Economic Research, Inc.
    3. Robert J. Shiller, 2003. "The Invention of Inflation-Indexed Bonds in Early America," NBER Working Papers 10183, National Bureau of Economic Research, Inc.
    4. Thomas M. Humphrey, 1974. "The concept of indexation in the history of economic thought," Economic Review, Federal Reserve Bank of Richmond, vol. 60(Nov), pages 1-16.
    5. Nguyen Viet, Cuong, 2002. "The Cost of Living Index for Poor Households: The Case of Vietnam," MPRA Paper 25628, University Library of Munich, Germany.
    6. Robert J. Shiller, 1997. "Public Resistance to Indexation: A Puzzle," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(1), pages 159-228.
    7. Stanley Fischer & Ratna Sahay & Carlos A. Végh, 2002. "Modern Hyper- and High Inflations," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 837-880, September.
    8. Robert Shiller, 2003. "The Invention of Inflation-Indexed Bonds in Early America," Yale School of Management Working Papers amz2611, Yale School of Management, revised 01 Mar 2004.
    9. Joseph Persky, 1998. "Retrospectives: Price Indexes and General Exchange Values," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 197-205, Winter.
    10. Thomas M. Humphrey, 1979. "The concept of indexation in the history of economic thought," Monograph, Federal Reserve Bank of New York, number 1979tcoiithoe.
    11. Juan Angel Garcia & Adrian van Rixtel, 2007. "Inflation-linked bonds from a central bank perspective," Occasional Papers 0705, Banco de España.

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