The Extent of the Market for Early American Bank Notes
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How far did antebellum bank notes travel? Up to now, we did not know. Using previously overlooked data on interbank holdings of bank notes and the records of a small-time note broker, I find that most bank notes circulated within about 50 miles of the issuing banks. Few notes were observed from as
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美国国家经济研究局创建时间：
2023-11-01
