Small-denomination banknotes in antebellum America.: An article from: Journal of Money, Credit & Banking

This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on November 1, 1993. The length of the article is 7598 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Every country that allowed competitive note issue was forced to deal with the issue of small-denomination banknotes. Most, including the United States, responded by prohibiting them. Contemporary critics believed that small notes stayed in circulation for long periods, were rarely redeemed, and promoted counterfeiting and fraud. Evidence from early America supports only the contention that they increased counterfeiting, but the prices at which small notes traded reflected that risk. The constant attack on small notes, therefore, is probably best explained as a manifestation of the general anti-bank, anti-monopoly sentiment prevailing during the Jacksonian era. (Printed by permission of the publisher.)

Citation Details
Title: Small-denomination banknotes in antebellum America.
Author: Howard Bodenhorn
Publication:Journal of Money, Credit & Banking (Refereed)
Date: November 1, 1993
Publisher: Ohio State University Press
Volume: v25 Issue: n4 Page: p812(16)

Distributed by Thomson Gale