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Fri 05 May 2009Financial wizardry is just smoke and mirrors
SERIOUS MONEY:THE AUTHOR L Frank Baum was born on this day in 1856. His most enduring work, The Wonderful Wizard of Oz, was published in 1900 and more than a century later remains a favourite among children, writes CHARLIE FELL
Baum’s seemingly-innocent fairytale is viewed by many as an allegory about the rise of the free silver movement in the 1890s and their demands for a bimetallic monetary standard that would ease the restrictions imposed on monetary expansion via the link to gold and help avoid a repeat of the severe depression of 1893.
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