Seigniorage in the Civil War South with Bryan Cutsinger

Originally released on December 7, 2018.

Today’s guest is Bryan Cutsinger of George Mason University, discussing his paper, “Seigniorage in the Civil War South.”

During the U.S. Civil War, the Confederate Congress adopted three currency reforms that were intended to reduce the quantity of Treasury notes in circulation by inducing the money-holding public to exchange their notes for long-term bonds.

[dianamcginnis]

Under a system of "free coinage, " there is no seigniorage. There is brassage, a charge made to an individual for the minting of any gold or silver brought to the mint and usually calculated to cover various costs.