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Also, there were paper dollars, the silver certificates, that had inscribed on them, “one silver dollar” and “payable to the bearer on demand.” Isn’t that a silver standard? In fact, however, if one brought 100 silver dollars or $100 worth of silver certificates to a US subtreasury office, then they would freely give 100 gold dollar coins in exchange.
Narrative Economics: How Stories Go Viral and Drive Major Economic Events
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