juraj on Nostr: Writing an article on free banking in USA in 19th century is interesting. I wanted to ...

Writing an article on free banking in USA in 19th century is interesting. I wanted to illustrate it on a story of a businessman coming from New York to San Francisco with his banknotes. He travelled by sea. Oh wait, the Panama canal was not built yet, I did not want him to go all the way around south America, that would have taken 4-6 weeks. So train on land, right? Nope, transcontinental railroad not built yet.

Towards the end of the free banking era, he could have taken a ship to Colon, Panama, then train through Panama railway to Panama city and then another boat. Before the Panama railway, people would go on a mule and quite often die, the jungle of Panama was not very safe.

I am very grateful for air travel and the Panama canal.

And the free banking is coming back with Cashu, stay tuned for the article.