The Wizard of Oz’s Greenback Conspiracy

Many of the fantastical elements of The Wizard of Oz were drawn directly from the monetary debates of the 1890s.

Beginning in the late 1860s, the United States experienced one of the longest periods of deflation in its history, a trend that reached its nadir with the Panic of 1893, which triggered a four-year depression. Unemployment peaked at 20 percent, with industrial areas particularly hard-hit, while in rural regions, farmers suffered from price declines. Long-standing […]

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