Talk:Specie Payment Resumption Act

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Untitled[edit]

This article makes no sense and needs a lot of work. The Resumption Act was actually a hotly debated issue during the 1876 presidential election. This page as currently written is weak. OddibeKerfeld (talk) 15:49, 12 December 2008 (UTC)[reply]

Agree. Can someone who really knows what "specie payments" is please add a simple explanation to this article. It's a term that was well known in archaic times but not now. Please don't add unless you really know. i am also capable of Googling to find that it seems to be taking your paper money to the government to get it back in the actual metal, silver or gold that is on deposit, but the history and context is not something I am expert in. Does it refer to getting pure metal such as gold bars from fort knox, or alloy back such as silver coins mixed with other metals for example? And were people really able to do it and did do it without hassle, or was there craziness associated such as not having it in stock, requiring delivery fees, or having problems like the current issue with depository gold really being tungsten in the center of the gold bars and the original gold gone missing. Xj (talk) 18:49, 29 August 2011 (UTC)[reply]

Rothbard refs[edit]

I know Murray Rothbard made some contributions to banking and currency theory, but he's a pretty heterodox source and considered fringe by some in the mainstream. Nor am I certain that LvMI publications meet Wiki:RS standards. This article is probably in need of some further attention beyond my capabilities. — Preceding unsigned comment added by AttackTheRivers (talk • contribs) 03:04, 14 November 2013 (UTC)[reply]

Use of the term "inflationary"[edit]

The article uses the term 'inflationary' rather loosely. In real life, the only things that really matter are productivity and some sort of an element of trust. If a government prints money and just hands it to people, e.g. to buy votes, that IS inflationary. On the other hand if a government prints money and uses it to cause real gains in wealth and infrastructure, that is not inflationary.

Simple example... Two sailors are shipwrecked on an island. They have five dollar bills left over from their previous lives and there are five clams on the island: a dollar is clearly worth one clam. But one sailor takes a machete which survived on their lifeboat, hacks up a coconut tree and creates a crude printing press, kills an octopus, uses the press and the octopus ink to print five new dollar bills and pays them to the second sailor to dig up 15 more clams. The island now has ten dollars and twenty clams; the guy basically just doubled the value of money on the island by printing it!!

The only meaningful things in that picture were productivity and an element of trust. No gold was needed. — Preceding unsigned comment added by Swolf46 (talk • contribs) 02:53, 22 January 2014 (UTC)[reply]

Plagiarism?[edit]

The last paragraph of "Reaction" appears to be appropriated without attribution from a Princeton website on the subject. The in-line citations site book refs, but not the Princeton site from which an editor apparently copied and pasted. This seems to violate WP: Plagiarism. AttackTheRivers (talk) 05:52, 4 March 2014 (UTC)[reply]