1. What do you see as the socio-political impact of the "Panic
... attempts to outlaw depreciation of bank notes. Four western states-Illinois, Missouri, Kentucky, and Tennessee-went to the length of establishing state owned inconvertible paper. The measures were only adopted after keen controversy. Many writers advocated more ambitious schemes of a federal inconvertible paper money. None came to a vote in Congress, but the House asked Secretary of Treasury Crawford to report on ... the desirability of such a plan. ... but not on such a widespread or intensified scale. In some cases they were adopted by themselves; in others they were used as means to...
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- Approx Pages: 12
- Grade Level: Undergraduate