Coin's Financial School 1894

[Silver Rocket Bitches!]

by William Harvey 1894 The Coinage Act of 1873, popularly known as the 'Crime of 1873' destroyed America's economy with deflation through the demonetization of silver, by allowing holders of civil war debt to demand repayment only in gold coin, when there was not enough gold above ground to make the payments. Coin's Financial School is the lost gem of monetarism. Enjoy Coin's Financial School with all original illustrations as it first appeared in 1894.


http://coinschool.blogspot.com/

[TheNocturnalEgyptian]

This was a huge deal. Prior to the act, you could take raw unformed silver to the mint, and they would mint YOUR SILVER into coins for you at a very low % fee. When demand increased even more, they just gave you coins immediately and stamped your silver into coins for the next guy. When demand was at its highest, they pulled this act out of nowhere. Bryon's famous speech about "Being crucified on a cross of gold" is applicable here.

Silver is what keeps gold in check. You can corner gold somewhat, you cannot corner silver. Making them trade into one another means you cannot corner either.