Is Paper Money Just Paper Money? Experimentation and Variation in the Paper Monies Issued by the American Colonies from 1690 to 1775 — Farley Grubb

Abstract The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange.

Type:: Book Chapter
Author:: Farley Grubb
Published:: 2016
Publisher:: Emerald Group Publishing Limited

Abstract The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange. This system arose piecemeal. In the absence of banks and treasuries that exchanged paper monies at face value for specie monies on demand, colonial governments experimented with other ways to anchor their paper monies to real values in the economy. These mechanisms included tax-redemption, land-backed loans, sinking funds, interest-bearing notes, and legal tender laws. I assess and explain the structure and performance of these mechanisms. This was monetary experimentation on a grand scale.

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What is "Is Paper Money Just Paper Money? Experimentation and Variation in the Paper Monies Issued by the American Colonies from 1690 to 1775" about?: Abstract The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange.
Who wrote "Is Paper Money Just Paper Money? Experimentation and Variation in the Paper Monies Issued by the American Colonies from 1690 to 1775"?: Farley Grubb