Money and Banking in the U.S. through 1865

From the Paper:

"The introduction of paper money in England accompanies the transition of the economy from feudalism to capitalism. The move away from the manorial production system was brought about in part because of a recognition that some goods could be bought from town sources more cheaply and in better quality than similar goods could be produced on the manors. This recognition led to a desire to produce more efficiently on the manor, so that something of exchange value would be available to acquire these outside goods. Eventually, this recognition led to a system in which more permanent stores of value, such as money, were exchanged, as opposed to exchanging perishable or quickly ... "

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