Publisher's Synopsis
Excerpt from Money and Transportation in Maryland, 1720-1765
Like all other civilized communities, the American colonies made gold and silver coin both their standard Of value and, as far as possible, their medium Of exchange. The southern and central parts of America proved so rich in the precious metals that they were able to replenish the disappearing supply in Europe; but as far as was known to the settlers, the English colonies were entirely lacking in gold and silver mines. Hence one of the first economic problems facing the English colonists was to procure enough bullion to supply the needs of their growing trade.
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