2. Consider the following entry in Thompson's Bank Note Reporter: City Bank, New-York, (S.) [G. A....

 

Transcribed Image Text:

2. Consider the following entry in Thompson's Bank Note Reporter: City Bank, New-York, (S.) [G. A. Worth. Pres., Robert Strong, Cash.] 2's, dated Feb. 20, 1827, lett. G. signed G. A. Worth, Cash., Isaac Wright, Pres. Otbers, lett. K. 5's, letts, B. b. In German text, pay to E. Hall, dated Oct. 1, 1838, No. 466, signed G. A. Worth Cash., Daniel Wright, Pres. Paper white and very thin. Engraved by Draper, Underwood, Bald & Spencer. par a. (5 points) The entry describes the bank notes issued by City Bank of New York. It says that genuine notes circulate at par. Were they a good medium of exchange-that is, did they function as money? 2. Consider the following entry in Thompson's Bank Note Reporter: City Bank, New-York, (S.) [G. A. Worth. Pres., Robert Strong, Cash.] 2's, dated Feb. 20, 1827, lett. G. signed G. A. Worth, Cash., Isaac Wright, Pres. Otbers, lett. K. 5's, letts, B. b. In German text, pay to E. Hall, dated Oct. 1, 1838, No. 466, signed G. A. Worth Cash., Daniel Wright, Pres. Paper white and very thin. Engraved by Draper, Underwood, Bald & Spencer. par a. (5 points) The entry describes the bank notes issued by City Bank of New York. It says that genuine notes circulate at par. Were they a good medium of exchange-that is, did they function as money?

Answer rating: 100% (QA)

Based on the information provided its difficult to say definitively whether the City Bank notes were ... View the full answer