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There were three general types of money in the colonies of British America: the specie (coins), printed paper money and trade-based commodity money. [2] Commodity money was used when cash (coins and paper money) were scarce. Commodities such as tobacco, beaver skins, and wampum, served as money at various times in many locations. [3]
The ease with which paper money can be created, by both legitimate authorities and counterfeiters, has led to a temptation in times of crisis such as war or revolution, or merely a spendthrift government, to produce paper money which was not supported by precious metal or other goods; this often led to hyperinflation and a loss of faith in the ...
Standard Catalog of World Paper Money - General Issues, 1368–1960, 16th Edition, publication date 2016, Krause Publications, ISBN 978-1-4402-4707-1 This is updated every two years or so. Standard Catalog of World Paper Money – Modern Issues, 1961–Present , 25th Edition, publication date 2019, Krause Publications, ISBN 978-1-4402-4898-6
A currency is a kind of money and medium of exchange.Currency includes paper, cotton, or polymer banknotes and metal coins.States generally have a monopoly on the issuing of currency, although some states share currencies with other states.
Some of the ill-effects that counterfeit money has on society include [3] [4] a reduction in the value of real money; an increase in prices as a result of an increase in money being circulated in the economy—an unauthorized artificial increase in the money supply; a decrease in the acceptability of paper money; and losses, when traders are ...
He sold currency-type paper to engraver Paul Revere, who printed paper money for the American Colonies. In 1801, Crane was founded by Zenas Crane, Henry Wiswall and John Willard. It was the very first paper mill in the United States west of the Connecticut River. [2] The company's original mill had a daily output of 20 posts (1 post = 125 sheets).
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