1. What do you see as the socio-political impact of the "Panic
... ultras who considered it a nationwide engine of monetary expansion. Such ultra hard money leaders as the Virginia group had little use for either state or federal banking. Much of the discussion between the "hard and soft money forces was on a highly sophisticated level. Some inflationists welcomed the prospect of a limitless flood of money and even advocated depreciation as helping to build up a ... to grant this in theory but to deny its practicality, asserting that the government would always tend to inflate the currency. Some added the subtle theoretical argument that the value of mon...
- Word Count: 3048
- Approx Pages: 12
- Grade Level: Undergraduate