Good Money: This Book Will Change How You See Competitive Coinage
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Selgin, G. A. (2008). Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775-1821. University of Michigan Press. Available at Amazon, Mises Store, and Independent Institute. Foreword, by Charles Goodhart This book details the fascinating history of the development, production, and use by the private sector of token copper coins during the early years of the Industrial Revolution, 1787-1817. The Industrial Revolution moved workers off the land into factories and thereby greatly increased the demand for small-value transactions money, to pay the wages and to allow the workers some choice in their use of their wage receipts to buy food, drink, and other goods. For a variety of reasons, nicely described by George Selgin, neither the Royal Mint nor commercial banks were willing or able to provide such small-value currency. There was a dearth of small change available to pay wages. The shortage was so severe that it was proving a serious hindrance to the industrial development of Great Britain.
Good Money: This Book Will Change How You See Competitive Coinage
Good Money: This Book Will Change How You See…
Good Money: This Book Will Change How You See Competitive Coinage
Selgin, G. A. (2008). Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775-1821. University of Michigan Press. Available at Amazon, Mises Store, and Independent Institute. Foreword, by Charles Goodhart This book details the fascinating history of the development, production, and use by the private sector of token copper coins during the early years of the Industrial Revolution, 1787-1817. The Industrial Revolution moved workers off the land into factories and thereby greatly increased the demand for small-value transactions money, to pay the wages and to allow the workers some choice in their use of their wage receipts to buy food, drink, and other goods. For a variety of reasons, nicely described by George Selgin, neither the Royal Mint nor commercial banks were willing or able to provide such small-value currency. There was a dearth of small change available to pay wages. The shortage was so severe that it was proving a serious hindrance to the industrial development of Great Britain.