plebeian on Nostr: In the 1890s on gold standard young people also wondered what exactly is this money ...
In the 1890s on gold standard young people also wondered what exactly is this money we have, and why does it have value? They might then have asked: how can we be on the gold standard when I almost never see a gold coin, only paper money, copper pennies and silver dimes. What would happen if I walked into a bank and tried to demand my gold? Most people in the 1890s never tried to do that, and they might have been rebuffed if they did, because banks satisfied their obligations when they gave depositors paper dollars. So, even in the 1890s the gold standard was a tantilizing mystery.
Published at
2024-08-27 13:43:39Event JSON
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