Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Colonial economies suffered from a scarcity of specie that traditionally has been attributed to a chronic external drain. An analysis of the Canadian currency in the early nineteenth century suggests that the explanation for the specie scarcity lies in the multi-coin monetary standard imposed by the currency laws. Gresham's Law accurately predicts the coins that circulated in Canada, and it is concluded that the colonists suffered from a lack of quality rather than quantity of specie.