ABSTRACT
Oneofthefundamentalconflictsof:interesti n anycommunity isthatbetweendebtorsandcreditors,andthenaturalfieldon whichthecontendersfighti t outismonetarypolicy.A n easymoneyor:inflationarypolicyfavorsthedebtor,fori t easesthe taskofrepayment.Astableordeflationarypolicy,ontheother hand,assuresthecreditorthattherealvalueofwhathereceivesonrepaymentequalsorexceedstherealvalueofthe amountheloaned.Conflictofthissorthasneverhadasharper effectonAmericanpoliticsthanduringtheperiodbetween theCivilWarandtheFirstWorldWar,whenitfocusedon thesilverquestion.
