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The fresh Foreign language dollars try afterwards displaced because of the British pound sterling in the introduction of the brand new worldwide gold standard over the past quarter of your own 19th century. Papers currency is actually granted again within the 1862 without having any support from precious metals as a result of the Municipal Conflict. And Treasury Notes, Congress within the 1861 signed up the fresh Treasury so you can acquire $50 million when it comes to Demand Cards, and therefore didn’t happen attention but can end up being redeemed on the request to own gold and silver coins. But not, from the December 1861, the new Relationship government’s supply of specie is actually outstripped by interest in redemption and so they were compelled to suspend redemption temporarily. But not, silver and gold coins always been provided, evoking the depreciation of the freshly published notes due to Gresham’s rules.
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