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https://hdl.handle.net/10419/23379
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Weidenmier, Marc D. | en |
dc.contributor.author | Burdekin, Richard C. K. | en |
dc.date.accessioned | 2009-01-29T16:04:32Z | - |
dc.date.available | 2009-01-29T16:04:32Z | - |
dc.date.issued | 2003 | - |
dc.identifier.uri | http://hdl.handle.net/10419/23379 | - |
dc.description.abstract | During the Civil War the Arkansas legislature funded their expenditures primarily through interest-bearing warrants and war bonds. After these issues were made legal tender in November 1861, the discount attributed to them disappeared immediately and they began to circulate widely. By mid- 1862 they appeared to be preferred to Confederate notes - which were also made legal tender in November 1861 but required military intervention to support their acceptance. The widespread circulation and potential dominance of legal tender interest-bearing currency is consistent with legal restrictions theory. Confederate notes supplanted the Arkansas issues only after the legislature suspended interest payments in November 1862. | en |
dc.language.iso | eng | en |
dc.publisher | |aClaremont McKenna College, Department of Economics |cClaremont, CA | en |
dc.relation.ispartofseries | |aClaremont Colleges Working Papers |x2003-04 [rev.] | en |
dc.subject.jel | N21 | en |
dc.subject.jel | E42 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Legal restrictions | en |
dc.subject.keyword | interest-bearing currency | en |
dc.subject.keyword | civil war | en |
dc.subject.stw | Geldgeschichte | en |
dc.subject.stw | Währung | en |
dc.subject.stw | Finanzgeschichte | en |
dc.subject.stw | Arkansas | en |
dc.title | Putting Legal Restrictions Theory to the Test: An Arkansan Experiment, 1861-1863 | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 47737655X | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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