For this essay, analyze the merits and faults surrounding the debate over the use of 'free silver" and its associated use as a monetary base.
Write essay in narrative form (not enumerated question & answer form), including answers to the following questions in your narrative:
1) Elaborate on the justification for employing a "silver standard" to supplement gold in the context of economic conditions that existed in the 19thcentury.
2) What are some of the risks associated with reliance on precious metals ( gold or silver) to support our monetary base ? Does this address the need for maintaining material value of money? or can a nation's money supply exist effectively without material backing of precious metals as espoused by the greenbacks?
3) In the absence of a gold standard, what are the implications ( positive or negative) of maintaining a monetary system using fiat money that is controlled predominately by a quasi-political central bank ?
The essay body should be 2 - 3 pgs. At least two valid sources must be included. Essay must follow APA.
Recently Asked Questions
- What would be some economic factors that lead to the development of monopolies
- 1) A baseball is thrown straight upwards, it's height is: h(t) = 42t+16t^t. What is the average speed over the intervals 0 ≤ t ≤ 1 , 0.5 ≤ t
- Iron is made from a reaction of iron oxide with carbon monoxide in the following reaction: Fe2O3( s ) + 3 CO( g ) → 2 Fe( s ) + 3 CO2( g ) Using Hess'