Registration
 
All news
Top Stories
Editors' Picks
Stocks
Crypto
Economics
Currencies
Commodities
Business & Wealth
Market Voices
Pavlo Kot
Pavlo Kot

George Selgin: Discount on northern bank notes in NYC or Chicago was under 1 percent by Civil War onset

George Selgin: Discount on northern bank notes in NYC or Chicago was under 1 percent by Civil War onset
Historical bank note discounts disputed

George Selgin disputes the accuracy of the widely cited 60 percent discount figure applied to northern bank notes during the period leading up to the U.S. Civil War.

Instead, Selgin states that by the onset of the conflict, the typical discount on notes from operating northern banks in New York City or Chicago was less than 1 percent. He clarifies that such a high discount would have only applied to notes from banks that had already failed.

Selgin has previously challenged assertions about the historical impact of government policy, including questioning claims that the Social Security Administration ended the U.S. Great Depression. In a separate analysis, he discussed how government guarantees can reduce the need for equity cushions in financial intermediaries. These topics reflect Selgin’s ongoing focus on interpreting historical financial data and policy.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

Editor's Picks for You

From Coinbase to Visa: Who makes money from blockchain?
  • By Anastasiia Chabaniuk
  • 6 hours ago
From Coinbase to Visa: Who makes money from blockchain?
Editors' Picks
One of the biggest M&A deals: Why is Marvell buying Lumentum?
  • By Mikhail Vnuchkov
  • 7 hours ago
One of the biggest M&A deals: Why is Marvell buying Lumentum?
Editors' Picks
Not Satoshi: Who created Bitcoin’s logo?
  • By Olena Litvinenko
  • Yesterday
Not Satoshi: Who created Bitcoin’s logo?
Editors' Picks
All Editors' Top Picks

Latest George Selgin News

Issuers offered 100 year bonds during the gold standard era, George Selgin notes
  • By Pavlo Kot
  • 27.10.2026
Issuers offered 100 year bonds during the gold standard era, George Selgin notes
Market Voices
#George Selgin
George Selgin: Most banking systems operate under fractional reserve principles
  • By Hanna Syniavska
  • 25.10.2026
George Selgin: Most banking systems operate under fractional reserve principles
Market Voices
#George Selgin
Dismissal of common banking claim shows lack of knowledge, George Selgin states
  • By Mykhailo Ihnatenko
  • 23.10.2026
Dismissal of common banking claim shows lack of knowledge, George Selgin states
Market Voices
#George Selgin
All George Selgin News
  • Anastasiia Chabaniuk
  • 6 hours ago
From Coinbase to Visa: Who makes money from blockchain?
  • Mikhail Vnuchkov
  • 7 hours ago
One of the biggest M&A deals: Why is Marvell buying Lumentum?
  • Olena Litvinenko
  • Yesterday
Not Satoshi: Who created Bitcoin’s logo?
  • Eugene Komchuk
  • Yesterday
Ryanair tightens its belt: How rising fuel prices threaten the budget airline
  • Dmytro Kharkov
  • Yesterday
How German metalworkers’ strikes are testing Europe’s industrial strength
  • Igor Krasulya
  • 16 min ago
Mandating Qubes OS may have averted hack, Peter Todd notes
  • Yaroslav Dmytrenko
  • 46 min ago
Steve Grasso: Market gained 16.1% on average 12 months after Republican president, Democratic Congress
  • Igor Krasulya
  • 46 min ago
AI-related shares tumble while S&P 500 slides less, Adam Khoo notes
  • Yulia Slavina
  • 51 min ago
Hiring, quits, and openings decline compared to past average, Mike Konczal notes
  • Hanna Syniavska
  • 1 hour ago
Bitcoin faces increased volatility after losing resistance levels, Joao Wedson notes
Top News
  • Darina Pashchenko
  • 1 hour ago
Binance reveals hack scheme involving fake job interviews and AI
Binance reveals hack scheme involving fake job interviews and AI
  • Olga Shendetskaya
  • 3 hours ago
Oil prices slide as U.S.-Iran diplomacy gains momentum
Oil prices slide as U.S.-Iran diplomacy gains momentum
  • Eugene Komchuk
  • 3 hours ago
China and Oman agree to cooperate on digital currencies
China and Oman agree to cooperate on digital currencies
  • Andrey Mastykin
  • 5 hours ago
Apple shares fall as China revenue misses estimates
Apple shares fall as China revenue misses estimates
  • Ivan Andriyenko
  • 6 hours ago
Turkey arrests stock exchange chief after fund collapse hits investors
Turkey arrests stock exchange chief after fund collapse hits investors
Live News
  • Hanna Syniavska
  • Now
Trump signals progress on Canada trade deal amid tariff tensions
  • Kyle Torpey
  • Now
South Korea considers 99% cold storage rule for crypto exchanges
  • Anton Kharitonov
  • Now
EUR/USD retreats toward 1.1180 as U.S. data strengthens the dollar
  • Jose Antonio Gastelum
  • Now
French lawmakers reject taxes on unrealized crypto gains
  • Mykhailo Ihnatenko
  • Now
Nvidia stock forecast: Can 200-day SMA support a rebound toward $210?
Who We Are
Business Solutions
For Users
TU News
Popular Sections
Disclosures
CONTACT US
Legal
We are in Social Media
© IAFT Ltd., 2010-2026 All rights to the website are owned by IAFT Ltd.,
Registration number - HE 336186
  • Risk disclosure:

    Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor.

    That is why you should only invest money that you are prepared — or can afford — to lose at such high risks. Tradersunion.com does not provide any financial services, including investment or financial advisory services. Also, the Traders Union is not a broker and does not get money for trading in the Forex or CFD markets. Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers.

  • Disclaimer:

    Traders Union (TradersUnion.com) shall not be liable for the consequences of trading decisions made by the Client and for the possible loss of his capital resulting from the use of this website and information published on it.

    Forex market, CFD and cryptocurrency trading involves high risks and is not suitable for everyone. Before investing money, you need to adequately assess the level of your expertise and be aware of the risks, particularly in the context of trading with leverage. The information on this website is not intended for distribution or use by any person in any country or jurisdiction, where such distribution or use would be in violation of the local law or regulation. Any payments by Traders Union (TradersUnion.com) to the users of our website shall be legally interpreted solely as an incentive on our part for the activity on the website in the form of a deduction of a part of the advertising income; they shall not be a subject of any claims of our users or our obligations, a subject of disputes, as well as cannot be considered in relation to the services provided to users by brokers, both in fact and in their completeness and volume. The administration of the website shall not be liable for the content of user comments and reviews about the companies and shall not verify whether the authors of the reviews are indeed real clients of a specific company. All reviews, both negative and positive are published on the website without verification of their reliability; only offensive reviews that call for violence or any kind of discrimination and also reviews published from one group of IP addresses are moderated and removed. The authors of the materials shall be fully liable for the accuracy, completeness and impartiality of any information in the articles and reviews, including in the context of their use or mention of any brand names or trademarks. All mentions of the names of companies and their brands in any materials on the website shall be made in the context of communication of socially important information to the people about their activities by independent journalists, who are the authors. All evaluations and indicators on the website express the subjective opinion of the authors of the reviews (articles) and shall not be viewed as accurate statements and be a subject of disputes and claims against Traders Union.

  • Disclosure of advertisers and revenues:

    All the services on the Tradersunion.com website are free for you to use. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters.

    Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner (broker) participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings. Our ratings are based on our objective rating criteria and methodology; and the results are always equally and fairly applied to each broker. The work of our content authors and research groups does not involve any interaction with our advertisers and they do not have access to data concerning the amount of advertising purchased. For over 10 years we consider our independence, absolute openness, and objectivity as our main priority. Please follow the links to each of our affiliated broker’s websites. This will help Tradersunion.com to continue to provide our services to you for free.

onepercentfortheplanet.org https://gdpr.eu/ GDPR World Association of News Publishers