Why Was Specie Scarce in Colonial Economies? An Analysis of the Canadian Currency, 1796–1830
1984 ◽
Vol 44
(3)
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pp. 713-728
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Colonial economies suffered from a scarcity of specie that traditionally has been attributed to a chronic external drain. An analysis of the Canadian currency in the early nineteenth century suggests that the explanation for the specie scarcity lies in the multi-coin monetary standard imposed by the currency laws. Gresham's Law accurately predicts the coins that circulated in Canada, and it is concluded that the colonists suffered from a lack of quality rather than quantity of specie.
2003 ◽
Vol 30
(2)
◽
pp. 299-316
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Keyword(s):
1966 ◽
Vol 4
(5)
◽
pp. 249-251
2007 ◽
Vol 86
(2)
◽
pp. 278-313
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Keyword(s):