What goldbugs will automatically tell you is that we had a gold standard then, and that is why it was so awesome. What they never mention: American gold mines provided enough new gold to power economic expansion while keeping prices stable. Kind of- there were a lot of hiccups in gold production, and a lot of short sharp depressions.
What goldbugs will automatically tell you is that we had a gold standard then, and that is why it was so awesome. What they never mention: American gold mines provided enough new gold to power economic expansion while keeping prices stable. Kind of- there were a lot of hiccups in gold production, and a lot of short sharp depressions.
https://en.wikipedia.org/wiki/Gold_mining_in_the_United_States