Creating Maryland’s Paper Money Economy, 1720-1739: The Role of Power, Print, and Markets
The British North American colonies were the first western economies to rely on legislature-issued fiat paper money as their principal internal medium of exchange. This system arose piecemeal across the colonies making the paper money creation story for each colony unique. It was true monetary experimentation on a grand scale. The creation story for Maryland, perhaps the most unique among the colonies, is analyzed to evaluate how market forces, media influences, and the power of various constituents combined to shape its particular paper money system.
|Date of creation:||2008|
|Date of revision:|
|Contact details of provider:|| Postal: Purnell Hall, Newark, Delaware 19716|
Phone: (302) 831-2565
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Web page: http://lerner.udel.edu/departments/economics/department-economics/
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- Farley Grubb, 2003. "Creating the U.S. Dollar Currency Union, 1748–1811: A Quest for Monetary Stability or a Usurpation of State Sovereignty for Personal Gain?," American Economic Review, American Economic Association, vol. 93(5), pages 1778-1798, December.
- Schweitzer, Mary Mckinney, 1980. "Economic Regulation and the Colonial Economy: The Maryland Tobacco Inspection Act of 1747," The Journal of Economic History, Cambridge University Press, vol. 40(03), pages 551-569, September.
- Mirowski, Philip, 1981. "The Rise (and Retreat) of a Market: English Joint Stock Shares in the Eighteenth Century," The Journal of Economic History, Cambridge University Press, vol. 41(03), pages 559-577, September.
- Smith, Bruce D, 1985. "Some Colonial Evidence on Two Theories of Money: Maryland and the Carolinas," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1178-1211, December.
- Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October.
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