Political Quotes

Benjamin Franklin: That in the middle colonies, where the credit of the paper-money has been best supported, the bills have never kept to…

On the record
That in the middle colonies, where the credit of the paper-money has been best supported, the bills have never kept to their nominal value in circulation; but have constantly depreciated to a certain degree, whenever the quantity has been increased.
Said by
Benjamin Franklin
Missouri

Editor's note · Context

Franklin observes that paper money in the middle colonies has consistently depreciated in value when its quantity increased.

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