Sunday, May 22, 2016

Dustbin of History: $am Upham

Dustbin of History: $am Upham: During the U.S. Civil War, New York printer $am Upham crippled the Confederacy’s economy and hindered its ability to fight the war. Yet he was never officially honored, and is all but forgotten now.

2 comments:

Don Coffin said...

Just a bit overstated..."His counterfeits made up 1-3 percent of the Confederacy's total money supply." Given that the rate of inflation in the Confederacy was running over 100% per year from 1861 through 1865, his additions made essentially no difference. ("Lerner showed that the Confederate money supply increased 11.5 times between January 1861 and October 1864 while commodity prices increased 28 times in the same period..." https://eh.net/encyclopedia/money-and-finance-in-the-confederate-states-of-america/ in case you're interested...and if you are, why? I teach this stuff, so I sort of have to care.)

Bill Crider said...

So he gets an E for effort, maybe?