Early history of the Republic of Texas mirrored our own difficulties (Exhibit)
A worldwide financial panic fueled by tight credit and the collapse of the real estate boom spread from country to country. Meanwhile, the president promised to veto any legislation he considered inflationary and damaging to the economy.
That's the way things were 170 years ago for the fledgling Republic of Texas.
"It was eerily similar to today," said Merrill Lynch vice president James Bevill, who is president of the Texas Numismatic Association.
Money printed by Texas while it was an independent country will be on display in Houston starting Friday at the association's winter coin and currency show.
The association also is compiling, for the Alamo, a display of Texas money that will feature examples of every surviving type of note, with currency on loan from 21 collectors.
While battles against Mexicans or American Indians often are all that is recalled of the republic's history, Bevill said the real story is the new country's struggle to establish an economy.
"Not every historian is a numismatist," he said, "but every numismatist is a historian."
Bevill is the author of the book A Paper Trail Across Texas — The Epic Struggle for Money, Credit and Independence in the Republic of Texas, to be released in December.
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That's the way things were 170 years ago for the fledgling Republic of Texas.
"It was eerily similar to today," said Merrill Lynch vice president James Bevill, who is president of the Texas Numismatic Association.
Money printed by Texas while it was an independent country will be on display in Houston starting Friday at the association's winter coin and currency show.
The association also is compiling, for the Alamo, a display of Texas money that will feature examples of every surviving type of note, with currency on loan from 21 collectors.
While battles against Mexicans or American Indians often are all that is recalled of the republic's history, Bevill said the real story is the new country's struggle to establish an economy.
"Not every historian is a numismatist," he said, "but every numismatist is a historian."
Bevill is the author of the book A Paper Trail Across Texas — The Epic Struggle for Money, Credit and Independence in the Republic of Texas, to be released in December.