Ahh, money, the magic elixir which keeps things oiled and our economy moving.
Back during the American Revolution, there were promises made to Washington’s troops and suppliers for the war effort. Paper currency was easier to print than matched with gold or silver. And, they printed a lot of paper.
As people caught wind that the paper the new American government printed was not so well backed, inflation skyrocketed. We may comment on recent times when a wheel barrel was needed to buy a loaf of bread.
We have seen this event unfold with recent countries and may be experiencing a bit of that with our own. Do not get me started.
Many soldiers were paid with land grants. We in Ohio, Kentucky and Indiana are familiar with those as many of our patriot ancestors were attracted to these localities.
The attached article is an interesting read, certainly a factor in the Revolutionary War.
Unfortunately, history can repeat itself.
Read it and certainly weep!
FEE – Foundation for Economic Education http://www.fee.org
Article was written by: Lawrence W. Reed