Letters and Replies
By Richard M. Salsman
Regarding “The End of Central Banking, Part II”
To the Editor:
In reading Richard M. Salsman’s “The End of Central Banking, Part II” [TOS, Summer 2013], I was puzzled by the phrase “inflation-adjusted” used in describing the period 1879–1913. If there was no central bank, who did the inflating? The states are not permitted to emit paper currencies. Was th…
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