1. The Nature and Necessity of Paper Currency
... trade due to the fact that Colonial America was never able to produce enough currency to buy goods needed for economic growth. Prior to 1723 Benjamin Franklin noted that foreign trade and exchange had stripped the colony of its gold and silver coins leaving American colonists with a lack of an adequate supply ... to produce coins for exchange on their own. In order for them to obtain gold and silver coins they must trade with other countries. Franklin states that unless some measures are taken to prevent the export of gold and silver coins, foreign trade could possibly lead to temporary ...
- Word Count: 1079
- Approx Pages: 4
- Grade Level: Undergraduate