LetUsHavePeace
Volunteer
- Joined
- Dec 1, 2018
The part of Radical Reconstruction that almost never gets discussed is how the President Grant and the Congress were able to establish the fixed exchange rate for the U.S. dollar in international currency (i.e. gold and silver coin) that would last for 90 years. How could the American paper dollar become as good as gold after the country's Federal government had borrowed more money in 6 weeks of war than the total amount owed by the U.S. Treasury at the end of 1860's fiscal year? Given the current acceleration of public borrowing, these questions about the past seem worth asking if only for the hope that the solutions found in the past may offer answers.
Bringing the