Small-Denomination Banknotes in Antebellum America
1993; Wiley; Volume: 25; Issue: 4 Linguagem: Inglês
10.2307/2077808
ISSN1538-4616
Autores Tópico(s)Economic, financial, and policy analysis
Resumo. . . speculators went to the banks, borrowed five, ten, twenty, fifty thousand dollars in paper, in small notes, usually under twenty dollars, and engaged to carry these notes off to a great distance, sometimes five hundred or a thousand miles; . . . many of these small notes would never return at all, and their loss would be a gain to the bank; others would not return for a long time; and the bank would draw interest on them for years before they had to redeem them. Thomas Hart Benton, 1854
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