Merchants subscribed to publications that reported the relative values of various bank notes.
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of michael a lebowitz Sent: Friday, October 24, 2008 2:59 PM To: Progressive Economics Subject: Re: [Pen-l] the era of free banking In the 1830s, many of these bank notes made their way to the main coastal cities [NYC, etc] via imports from the interior. The cost of getting them back for redemption to the places of issue like Buffalo [not to mention those places where only wildcats roamed] was pretty high but, in fact, because of the demand for a circulating currency many remained in circulation at varying discounts. michael Doug Henwood wrote: On Oct 24, 2008, at 5:26 PM, Laurence Shute wrote: My great-grandfather, John S. Shute -- owner of the Shute Bank in Hillsboro, Oregon -- is said to have done a similar thing with bags of lead slugs prominently displayed behind the counter. "See, we've got lots of money." I wonder how common this sort of thing was. Why didn't people ask to look underneath more often? Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l -- Michael A. Lebowitz Professor Emeritus Economics Department Simon Fraser University Burnaby, B.C., Canada V5A 1S6 Director, Programme in 'Transformative Practice and Human Development' Centro Internacional Miranda, P.H. Residencias Anauco Suites, Parque Central, final Av. Bolivar Caracas, Venezuela fax: 0212 5768274/0212 5777231 http//:centrointernacionalmiranda.gob.ve [EMAIL PROTECTED]
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