Everyone is familiar with money. Yet few realize that currently
contentious issues and financial difficulties are not new. On the
contrary, most are firmly rooted in the past and when examined help
to put current economic problems in historical context. This text
presents a history of money from Charlemagne's reform in
approximately AD 800 to the end of the Silver Wars in 1896. It
offers a summary of 20th-century events and an analysis of how the
past relates to present problems. This book examines how virtually
all modern difficulties associated with money have precedents in
the past. It discusses how a mercantile system developed alongside
simple, metallic, medieval coinage, in a way which has important
lessons for the countries now emerging from central planning. It
covers the great periods of monetary disputes, Henry VIII and Sir
Thomas Greshem, Isaac Newton's Great recoinage of 1696, Ricardo and
the Bullion Committee Report, the battle between the Banking and
currency schools, and the neglected but relevant, issues of
bimetallism and European monetary union in the late 19th-century.
General
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