A fascinating but often overlooked topic is the establishment of currency in a new nation. The process involves not only a host of unknown and complicated political factors, but also economics and the culture of the new nation. In A History of American Currency, Yale Professor William G. Sumner examines the development of the monetary system in the United States, from the colonial era through the Civil War. He noted that the earliest British settlers brought with them virtually no money; the English government wouldn't allow it, and.
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