Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23379
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dc.contributor.authorWeidenmier, Marc D.en_US
dc.contributor.authorBurdekin, Richard C. K.en_US
dc.date.accessioned2009-01-29T16:04:32Z-
dc.date.available2009-01-29T16:04:32Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/23379-
dc.description.abstractDuring the Civil War the Arkansas legislature funded their expenditures primarily throughinterest-bearing warrants and war bonds. After these issues were made legal tender in November 1861,the discount attributed to them disappeared immediately and they began to circulate widely. By mid-1862 they appeared to be preferred to Confederate notes – which were also made legal tender inNovember 1861 but required military intervention to support their acceptance. The widespreadcirculation and potential dominance of legal tender interest-bearing currency is consistent with legalrestrictions theory. Confederate notes supplanted the Arkansas issues only after the legislature suspendedinterest payments in November 1862.en_US
dc.language.isoengen_US
dc.publisher|aClaremont McKenna College, Department of Economics |cClaremont, CAen_US
dc.relation.ispartofseries|aWorking paper series / Claremont McKenna College |x03,04 [rev.]en_US
dc.subject.jelN21en_US
dc.subject.jelE42en_US
dc.subject.ddc330en_US
dc.subject.keywordLegal restrictionsen_US
dc.subject.keywordinterest-bearing currencyen_US
dc.subject.keywordcivil waren_US
dc.subject.stwGeldgeschichteen_US
dc.subject.stwWährungen_US
dc.subject.stwFinanzgeschichteen_US
dc.subject.stwArkansasen_US
dc.titlePutting Legal Restrictions Theory to the Test: An Arkansan Experiment, 1861-1863en_US
dc.typeWorking Paperen_US
dc.identifier.ppn47737655Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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