Friday, June 03, 2011

Lesson in Hard Times of 1837

Serious coin collecting as numismatics tells more on economics, when history shows some solutions as today legislators chip away at the penny. Forgotten is the depression of 1837 when the rich people came to the rescue of the US failing commerce and minted coins to stimulate the economy.

No one talks about the depression of 1837, though the new Speaker of the House, John Boehner, openly brought up the 1787 coin and currency act of the First Congress of the United States. Now, that first version of the act began with a scandal and grew worse over corrupt private contracts to mint coins until . . .

Full story at: OpEdNews

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