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Article: Currency and Coinage
- Article from:
- Dictionary of American History
- Author:
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CURRENCY AND COINAGE
CURRENCY AND COINAGE.
Until World War II, coinage was thought to have played a great role in U.S. economic history through its relations to money supply and monetary policy. Colonial coin shortages, the uncertain coinage policies of the early nineteenth century, and the bimetallist controversies of the late nineteenth century are standard features of older histories. Studies in the last half of the twentieth century, however, made it apparent that coinage has been a rather passive institution in American affairs. The denominations, metallic content, and volume of U.S. coins have done little either to retard or to advance U.S. economic development. Apart from ...