Farley W. Grubb's recent papers on the early U.S. monetary system would be important contributions to the common currency area literature were not most of their historical assertions questionable and their key assumption—that the medium of exchange can be inferred from the unit of account—...

GRUBB’S RECENT PAPERS (2003, 2004, 2006B) ARE AIMED AT nothing less than rewriting important chapters of early American history. Our goal in both our AER and EJW comments was a negative one, to dissuade readers from accepting Grubb’s views and data. We are humbled by the complexity...

Farley Grubb has developed an ambitious new money-stock time series for colonial Pennsylvania that uses the ingenious method of examining newspaper advertisements promising rewards (e.g., for help in catching runaway slaves) to estimate monies in circulation (Grubb 2004). Grubb asserts that...