Title: The Money Question The Legal Tender Paper Monetary System of the United States An Analysis of the Specie Basis or Bank Currency System, and of the Legal Tender Paper Money System Classic Reprint
Publisher: Forgotten Books
Publication Date: 2019
Language: English
ISBN 10: 1330481593
ISBN 13: 9781330481592
Binding: PAP
Condition: New
Weight: 628 grams

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Synopsis

This book offers a powerful critique of the economic systems of the 19th century. Taking the United States as its central case study, the author delves into the complexities of money, banking, and national debt. The book examines the historical evolution of money, tracing its development from the barter system to the use of coins, and then exploring the transition to paper currency. Through a detailed analysis of the specie basis system, the author demonstrates how the power to issue money, when delegated to private banks and corporations, can create a system that benefits the wealthy at the expense of the working class. The book also delves into the specific consequences of the specie basis system on the American economy, detailing the recurrent financial crashes and panics that plagued the nation during the 19th century. The author argues that these economic crises were not inevitable but rather a consequence of a flawed monetary system that was designed to enrich a select few. By examining the detrimental effects of the specie basis system, this book challenges the conventional wisdom of the time and offers a compelling argument for a legal tender paper money system controlled by the government. The author argues that such a system, by making money more available and less subject to manipulation, would foster greater economic equality and prosperity for all Americans.

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