A History of American Currency - ISBN:0158412076

A History of American Currency

Date: 22 April 2011, 07:45

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The author, William Graham Sumner, was the great sociologist of late 19th century America, but also a wise observer of economic conditions.
In 1874, in the midst of another debate about the future of the American monetary system, he offered this sweeping history of the calamity of paper money in the United States from the Colonial Period to the Civil War. In many ways, it is a popular history in the sense that he hoped it could be read by anyone.
What's strike here is his "Austrian" understanding of the relationship of paper money to credit cycles, inflation, and corruption. He was a firm advocate of sound money and 100% reserve banking.

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