PAPER MONEY
There are many reasons why using paper money instead of silver and gold became necessary and one major reason was that it allowed you to not have to carry a lot of gold or even silver on your person. Another major reason for its use is the fact that you can easily hide paper money though the same was not the case with gold and even silver. What’s more, until the beginning of the 1900s, it was the custom in the USA to redeem this form of money for gold though later it was made illegal to own more than hundred dollars worth of gold by any one person.
After the Great Depression, the restrictions on this form of money were removed and is was being churned out in great volumes by printing presses throughout USA which even led to various schemes that allowed for buying government bonds. However, later regulations were placed to control how much of paper money could be supplied.