the federal reserve system is allowed to print money in the us.
the federal reserve system is allowed to print money in the us.
who is allowed to print money in the us?
federal reserve system
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it was said that spaulding was the one who figured out that the american government needed to print money to pay for the civil war. at the time, it was regarded as economic heresy, but today many believe that the country would not have survived without it. such an idea was then dismissed by some as "fiat money," money that is money not because it is backed by gold or silver, but because some government says it is money. he was chairman of a house ways and means subcommittee when the government was in danger of running out of money to pay for the war. he wrote a law that allowed the government to print money and declare it had to be accepted as legal tender.
elbridge g. spaulding