Forgotten History: How Local Currencies Helped to Bootstrap One of the World’s Biggest Economies
The US dollar has been the world’s reserve currency for as long as most of us can remember, since the signing of the Bretton Woods Agreement in 1944. But go back a little further, before the turn of the 20th century, and the dollar didn’t always reign supreme even on home turf. In fact, the mighty greenback emerged from a melange of smaller, locally-issued currencies that helped to bootstrap one of the world’s biggest and most diverse economies into existence.
