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The Panic of 1861 and the Advent of Gree...

Bruner, Robert F.,...

Case

The Panic of 1861 and the Advent of Greenbacks and National Banking (B)

Bruner, Robert F.; Caires, Michael T.

F-1823 | Published July 24, 2018 | 6 pages Case

Collection: Darden School of Business

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Set in 1870, the B case describes Chief Justice Samuel P. Chase's opinion in Hepburn v. Griswold, which challenged the constitutionality of a national fiat currency. The B case also discusses reactions to the ruling and subsequent court decisions.

(a) Review one of the most significant pivots in US monetary policy, which created a national fiat currency and national bank charters. (b) Illustrate the impact of inflation on the interests of debtors and creditors. (c) Explore the pricing of greenbacks in response to news (military, political, and financial).