Coin's financial school

Description:

A book on the consequences of removing silver as a monetary metal and adopting gold as the only monetary metal. Prior to 'The Crime of 1873' gold and silver was freely coined into coins of fixed value by the Mint according to their weight with (roughly) an ounce of silver being defined as a Dollar. Gold price was essentially stable at $15.98 per ounce. The demonetization of silver led to a halving in the price of silver and widespread hardship and poverty because roughly half of the money in the USA were no longer good for paying debts, taxes and interest.

subjects: Silver question,  Silver (as money),  Bimetallism

Places: Chicago

Times: 1893