19th. Century Treasure Hunter Tells How people Hid Money

[jeff of pa]

The Forest Republican. (Tionesta, Pa.), 27 Oct. 1886.



Continued: The Forest Republican. (Tionesta, Pa.) 1869-1952, October 27, 1886, Image 4 « Chronicling America « Library of Congress

 

[diggummup]

Good little read.

 

[releventchair]

Ah haa! (the last line...)

 

[digging440yrs]

Great info--thanks for post

 

[John Winter]

I love reading those old newspapers.
Here's the bit I enjoyed on that page.

 

[K1DDO1979]

So this is where I should start looking....haha...

 

[davin]

thanks guys.

 

[Wvtermite]

When the federal reserve was started, is it true that workers came to farmers and back country folk and asked them to turn in their gold in exchange for paper money or bonds? I have always heard that the hillbilly type didn't trust the government and figure they were making moonshine and maybe had a bit too much and forgot where they buried some of that treasure.

 

[releventchair]

Gold being called in back then left some gold able to be kept.
I have not looked hard to find actual approaching rural folks demanding it happening..not recalling any cases though.
One thing though, that was during an era when banks were failing in great numbers. That would be upsetting enough to make some people think some gold buried was worth more than a failed system keeping money secure.
A very real fear back then with deposits uninsured and peoples savings in a bank actually disappearing,poof!
Too, acceptance of fiat money was hard for some to grasp. Cold hard cash vs a paper note with no backing.
Maybe that caused some "real" money to be squirreled away.
Bank Failures during the 1930s Great Depression