The founders and old revolutionaries used the word “depreciation” to describe what we call “inflation” today. Their way is much better – because when people understand that money is worth less (or worthless), it’s much easier for them to understand the cause of the problem in the first place.
Path to Liberty, Fast Friday Edition: March 31, 2023
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Episode – Inflation: An Introduction
William Grayson, Letter to James Madison (22 Mar 1786)
George Mason, Letter to Thomas Jefferson (14 May 1781)
William Davie, North Carolina Ratifying Convention (28 July 1788)
Benjamin Franklin to Dumas (17 May 1779)
George Washington to Jabez Bowen (9 Jan 1787)
William Gordon to John Adams (1 May 1776)
Charles Carroll to Benjamin Franklin (12 Aug 1777)
Nathanael Greene to John Adams (2 June 1776)
James Sullivan to John Adams and Elbridge Gerry (11 Oct 1776)
Henry Knox to George Washington (26 Nov 1777)
George Washington to Joseph Spencer (24 Jan 1778)
Albert Gallatin to AJ Dallas, Secretary of Treasury (25 Sept 1815)
Gouverneur Morris to George Washington (26 Oct 1778)
Benjamin Franklin to Samuel Cooper (22 Apr 1779)
Benjamin Franklin, Of the Paper Money of America (1780)
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