The Changing Role of Foreign Money in the United States, 1782–1857
- 1 December 1977
- journal article
- research article
- Published by Cambridge University Press (CUP) in The Journal of Economic History
- Vol. 37 (4) , 1009-1027
- https://doi.org/10.1017/s002205070009478x
Abstract
Foreign money remained in widespread use in the United States until the middle of the nineteenth century. Several foreign coins were provided legal tender status in order to supplement the scanty American specie supply. A particular disadvantage was the perpetuation of non-decimal units of account, especially in New York. When the U.S. enacted a subsidiary silver standard in 1853, the expedient bases for the lawful status of foreign coin was removed. In 1857, the United States coinage was finally reformed to secure an exclusive national currency.Keywords
This publication has 8 references indexed in Scilit:
- Metallism, small notes, and Jackson's War with the B.U.S.Explorations in Economic History, 1974
- 1853: The End of Bimetallism in the United StatesThe Journal of Economic History, 1973
- Bimetallism in the United States before 1850Journal of Political Economy, 1968
- Albert GallatinPublished by Rutgers University Press ,1958
- The Spanish Dollar: The World's Most Famous Silver CoinBulletin of the Business Historical Society, 1941
- Wholesale Prices in Philadelphia, 1784-1861Published by University of Pennsylvania Press ,1936
- The End of the Mexican DollarThe Quarterly Journal of Economics, 1904
- The Spanish Dollar and the Colonial ShillingThe American Historical Review, 1898