Edwin Walter Kemmerer
Gold and the Gold Standard: The Story of Gold Money, Past, Present, and Future yazarıHakkında
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The paper money of England in 1797 consisted of bank notes—those of the Bank of England, which circulated for the most part in London and the vicinity, and those of the “country” banks, which circulated chiefly in their respective communities. Notes were redeemable in specie on demand, but were not legal tender. There were no restrictions on the receipt of deposits by banks in England and their circulation by means of bank checks; and during the latter half of the eighteenth century and the early nineteenth century the use of deposit currency was increasing.
Sayfa 31
gold coins and silver coins circulated for several centuries under a dual standard. Gold gained in importance at the time of Alexander the Great, under the stimulus furnished by the large amount of gold produced in his Pangean mines.
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