start of united states depression

Start of Depression 1800´s

Farmers and debtors, feeling a the economic downturn of the united states depression and began requesting the halt of the greenback notes. Around 1867, the wartime economic boom had ended and it was in their interest to create inflation, which would make it easier for them to pay off large debts. A compromise was reached in which $356 million worth of greenbacks […]

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