wampum, colonial america, currency competition, thanksgiving, economic history, currency, inflation

(Originally appeared November 27, 2014) Happy Thanksgiving to all of my fellow free bankers out there! Today is our biggest secular national holiday. Not everyone celebrates Christmas or Easter much less other national holidays like Memorial Day or Labor Day, but I don't know anyone who doesn't…

Canadian Banking System, Counterfeiting, Currency Competition, National Banking Era, Private Banknotes

I've referred often in these pages to the virtues of Canada's late-19th century currency system, with its heavy reliance upon circulating notes issued by several dozen commercial banks, most of which commanded extensive nationwide branch networks. I've also lamented the fact that so few monetary economists today, let…