Organization Of Debt Into Currency And Other Papers
Charles Holt Carroll defended sound money in a blazing series of essays appearing in the latter decades of the 19th century. They are all collected here, in The Organization of Debt into Currency and Other Papers.
Little is known of Charles Holt Carroll (1799–1890). Only a shadowy figure of a man emerges. One would like to know more about this merchant who wrote so vigorously on the currency question.
What we do know is his devotion to hard money and his unwavering rejection of fractional-reserve banking in all its forms. As Murray Rothbard points out in his history of economic thought, "A staunch adherent of free trade and laissez-faire, Carroll … was the last Jacksonian, continuing to argue the ultra-hard money cause long past the tremendous setback it received during the Civil War."