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curious: what was america like before the national banking act?
what was america like before the national banking act? I know that it established the first paper currency but what was used before that.. like how has america changed for the better since then?? whatwas wrong with however it was before?
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what was wrong? there was no standard currency. people from kentucky couldn't take the money they have and go to alabama and buy stuff because the banks in alabama would not recognize their money as legal tender.
america did change for the better, until we went off the gold standard(each paper dollar was backed by a real dollar of gold in the U.S. treasury vault) and changed over to this garbage fiat currency(that paper dollar is now only backed up by faith in the U.S. government). this is the reason why a 20 dollar gold coin from the 1890s is worth 1490 of today's dollar. inflation and lack of faith is a bitch.
-gunner
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