The Decline from Weight to Name: Monopolizing the Mint

Rothbard argues that 1931–33 was the last step in a long process rather than a sudden break. Government’s compulsory monopoly of coinage came first, defended by fears of private fraud that the long record of official debasement makes hollow. He answers the Gresham’s Law objection, then traces how the royal stamp shifted emphasis from a coin’s weight to its name.