Our current paper fiat money system comes from a long process of building up state power that destroyed private money, ended truly private banking, and abolished the market system of competing currencies. It took 300 years, and we are now facing the inflationary results.
Category:
Politics
President Andrew Johnson, who is best known for being the first president to be impeached, vetoed protectionist legislation that looked to raise tariffs on imported copper. Congress overrode his veto, but his free-trade message is just as relevant today as it was in 1869.