US dollar banknotes When gold and silver have been applied as money, the money source could mature only if the supply of such metals was greater by mining. This fee of enhance would accelerate during durations of gold rushes and discoveries, including when Columbus traveled to the New World and introduced again gold and silver to Spain, or when gol
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In 1875, the British economist William Stanley Jevons explained the money utilised at some time as "representative money". Consultant money is money that is made up of token cash, paper money or other physical tokens which include certificates, that can be reliably exchanged for a hard and fast quantity of the commodity for instance gold or silver.