William M. Gouge

Publications

A Short History of Paper Money and Banking in the United States

01/01/1835 William M. Gouge

“The Bank was saved, and the people were ruined.” So says William Gouge (1796–1863), one of the best political economists of the American 19th century. He is speaking of the panic of 1819, but his sentence could sum up the whole thesis of this

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.