Venkatesh Rao@vgr·Jul 3, 2015Replying to @pmarca@pmarca I think I've seen it mentioned in multiple robber baron era books. Vanderbilt bio, Lind's land of promise...324
Patrick Chovanec@prchovanec·Jul 3, 2015Replying to @vgr@vgr @pmarca scrip currency (including tobacco receipts) was more prevalent during colonial times23
Patrick Chovanec@prchovanec·Jul 3, 2015Replying to @prchovanec@vgr @pmarca Navigation Acts restricted export of specie to colonies, and forbid colonies from printing own currency (Catch-22)11
Patrick Chovanec@prchovanec·Jul 3, 2015Replying to @prchovanec@vgr @pmarca so colonies had to make due with combination of scrip and foreign coins (often Spanish dollars)11
Patrick Chovanec@prchovanec·Jul 3, 2015Replying to @prchovanec@vgr @pmarca in early 19th Century US banks could issue their own notes so lack of currency was not a significant issue (quite the contrary)12
Patrick Chovanec@prchovanec·Jul 3, 2015Replying to @prchovanec@vgr @pmarca crop receipts served as a kind of parallel currency in the mid-19th century, to cover seasonal tightness due to farming cycle745
Venkatesh Rao@vgrReplying to @prchovanec@prchovanec @pmarca what would be equivalent in greece? Article talked about a paper factory, but I'm thinking tourist hotel reservations11:56 PM · Jul 3, 20151 Like