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Fowle's New Hampshire Gazette And General Advertiser
Portsmouth, Rockingham County, New Hampshire
What is this article about?
In Charleston, S.C., on May 6, the circulation of hard money has increased unexpectedly since the introduction of paper currency, dispelling fears of its depreciation and encouraging hoarders to open their strongboxes and pay debts.
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Since the appearance of the paper medium, there has been a general and unexpected circulation of hard money, from which it appears, that the outcry raised relative to the scarcity of cash, proceeded from the fears entertained by the people relative to the validity of the new emission. As its value seems now fairly established, and those causeless fears of its depreciation certainly done away, the hoarders of dollars, who had lost their keys, have been induced to open their strong boxes, and some of them even to pay their debts.
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Where did it happen?
Domestic News Details
Primary Location
Charleston (S. C.)
Event Date
May 6.
Outcome
increased circulation of hard money; hoarders opening strong boxes and paying debts.
Event Details
Since the appearance of the paper medium, there has been a general and unexpected circulation of hard money, indicating that previous outcries about cash scarcity stemmed from fears over the new emission's validity. With its value established and fears of depreciation alleviated, hoarders have been induced to access their dollars and pay debts.