Banks in the early US were not uniformly regulated, and merchants faced uncertainty about whether banks actually held the specie they claimed to hold.
factualpending
Speaker
Paul BluesteinEvidence Quote
“there were questions that were logically arose, quite reasonably arose in people's minds about whether some of these banks really had the specy that they claimed they had.”
Source
Will the U.S. Dollar Survive the Breakdown of the International System? | Paul Blustein— Hidden ForcesCreated: 8/11/2026, 7:11:47 AM
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