A Nation Of Counterfeiters By Stephen Mihm

Search Menu For most of the nineteenth century, the United States was an intensely entrepreneurial society that was perpetually short of paper money. The national government, whose authority over banks and the currency was weak and contested, could do little to provide a permanent solution.

This economic conundrum gave an army of counterfeiters bountiful opportunities to ply their trade. In Stephen Mihm's engagingly written book, their shadowy identities and activities have for the first time been subjected to scholarly treatment.

Mihm's note on sources makes clear how difficult it was to piece this story together. Antebellum documents such as the files https://modernalternativemama.com/wp-content/custom/personal-statement/a-modest-proposal-cannibalism.php the Second Bank of the United States and the police records of many municipalities no longer exist. Mihm turned to other diverse sources scattered in U. All rights reserved. American Historical Association.]

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A Nation Of Counterfeiters By Stephen Mihm	For most of the nineteenth century, the United States was an intensely entrepreneurial society that was perpetually short of paper money. The national governmenAuthor: Rowena Olegario. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Stephen Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by a freewheeling brand of capitalism over which the federal government exercised little control. It. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Stephen Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by a freewheeling brand of capitalism over which the federal government exercised little control.5/5(1).

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Table of Contents Few of us question the slips of green paper that come and go in our purses, pockets, and wallets. Yet confidence in the money supply is a recent phenomenon: prior to the Civil War, the United States did not have a single, national currency. Instead, countless banks issued paper money in a bewildering variety of denominations and designs—more than ten thousand different kinds by Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Stephen Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by a freewheeling brand of capitalism over which the federal government exercised little control. We learn how the federal government issued greenbacks for the first time and began dismantling the older monetary system and the counterfeit economy it sustained. Readers will recognize the same get-rich-quick spirit that lives on in the speculative bubbles and confidence games of the twenty-first century.

A Nation Of Counterfeiters By Stephen Mihm.

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Yet confidence in the money supply is a recent phenomenon: prior to the Civil War, the United States did not have a single, national currency. Instead, countless banks issued paper money in a bewildering variety of denominations and designs—more than ten thousand different kinds by Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Stephen Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by a freewheeling brand of capitalism over which the federal government exercised little control. We learn how the federal government issued greenbacks for the first time and began dismantling the older monetary system and the counterfeit economy it sustained. Readers will recognize the same get-rich-quick spirit that lives on in the speculative bubbles and confidence games of the twenty-first century.