... “dollar of our fathers” and the standard currency of the day, remained fixed in value. Laughlin, History of Bimetallism, p. 70.106 A History of Money and Banking in the United States: The Colonial ... Michigan, and Florida) had repudiated all or part of their debts. Six other states (Maryland, Illinois, Indiana,Louisiana, Arkansas, and Pennsylvania) had defaulted fromthree to six years before ... England continued to redeem their obligations in specie.Finally, the Bank of the United States, having for the last timeplayed a leading role in generating a recession and monetarycrisis, was...