Wow, its surprising how much a dollar's worth varied before the Federal Reserve was created.
They did add a lot of stability. The continual loss of value has been extremely stable ever since they have been in charge.
I know but what the heck. What even caused it to go down that much before the federal reserve. Was that 40% loss of value really just due to fractional reserve? Shouldn't that add additional demand as well to compensate for the additional supply, at least in the long term?