During the Civil War the U.S. experienced high inflation with unbacked currency. If immediately after the...
During the Civil War the U.S. experienced high inflation with unbacked currency. If immediately after the war the U.S. Treasury had decided to make the dollar convertible into gold at the pre-War rate then…
| British citizens would have converted large amounts of pounds into dollars. |
| British goods would have become relatively more expensive than before. |
| It would have stabilized the economy. |
| The U.S. Treasury would have quickly run out of gol |
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During the Civil War the U.S. experienced high inflation with
unbacked currency. If immediately after the...
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