Why would a merchant in New York City need to know how much a $10 bill from the Bank of Nashville should be discounted? Full question below?


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"Dillistins Bank Note Reporter" reported on the value of bank notes (paper money) and bonds in the national marketplace in the 1800's. Why would a merchant in New York City need to know how much a $10 bill from the Bank of Nashville should be discounted?


Please help! I have no idea!!


Banks in Nashville, IN



Answer (1):

Bill

In the 1800's money issued by one state could vary in value from that issued in other states.. It was similar to how we currently deal with foreign currency.


Relevant answer in Nashville, IN