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sam_site
Member since May 2013
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has posted a comment on the article :
>Forgotten Anniversary: One Hundred Years of Legal Tender  - Antal E. Fekete - Gold University
Antal - I’ve been looking for an explanation why the US stock market closed from July thru Nov 1914. The excuse was to avoid the drain of gold flowing to Europe.

I suspect this had to do with the 1907 Panic banking crisis, legal tender laws and the relaxation of the gold standard you allude to.

Enjoy your history lesson. Can't get enough. I understand that by 1914, a gold certificate could be issued with a Sovereign Treasury Bond and not physical gold. Just when did we go off the gold standard before 1914?

Commented 2865 days ago
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Beginning of the headline :The original meaning of legal tender simply referred to a tolerance standard applicable to the wear and tear of gold coins. Coins meeting the tolerance standard circulated by tale, that is, their value was established by counting them out ? a great convenience... Read More
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