Need Help with an Economics History Question

springy

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Mar 16, 2013
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What was the relationship between bank notes and treasury notes under the gold standard?
 
What was the relationship between bank notes and treasury notes under the gold standard?

not sure really but assume both we backed and redeemable in gold or silver. A treasury note probably had a fixed relationship to gold since it came from the government while bank notes were as likely to be backed by silver as gold and have floating rates based on the fortunes of the 1000's of banks issuing the notes.
 

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