the authorities to ensure the safe and widespread use of currency was itself facilitated by private When it comes to what is considered money, the sector innovations in the production of coins and public also insists that the means of payment the ability to thwart the counterfeiting of notes should be widely accepted and maintain its (for example, as in the creation of polymer notes; purchasing po. [...] The chosen illustrations The Evolution of Money: are intended to highlight the role of the private sector in the development of money; how and why Six Examples from governments took on a central role to uphold the key functions of money; and the extent to which History crises, not exclusively of the financial variety, may have played a role in the observed outcomes. [...] Because of the fear of inflation and the importance the public and many politicians placed on the Economic historians have been keenly interested kind of sound monetary system delivered by and continue to debate the implications of the the gold standard, the return to convertibility greenback era. [...] Looking back, it appears that of monetary policy? Second, did the promise of the the promise was credible since convertibility was return to convertibility play a role in the success eventually resumed and there was no inflation of the greenbacks? This points to the importance problem during the greenback era, a sign that there of credibility in the conduct of monetary policy. [...] Since the monetary authority the 100 percent reserve requirement were applied is the ultimate backer of currency in circulation, to all types of deposits, this would not have the argument is that accounts at the central bank prevented the emergence of the shadow banking would provide the public with the safest form of sector, which likely was the principal instigator guarantee against the costs of.
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