Explain who were these people:
Answer the following Questions:
1. What where the “boom towns” filled with?
2. Who version of the story is this?
3. What service did Gus Mahler provide for the town?
4. What was one of the major problems with carrying Gold to do all transactions?
5. What problem did the businesses in Pine Gulch always had to worry about?
6. How often did Mahler go to
7. What idea did Moon Jenkins come up with?
8. Why was there a demand for Slim's services in Pine Gulch?
9. Describe Slims appearance.
10. What deal did the businesses owners make to Slim? Did he accept?
11. To whom did Slim begin to offer his services?
12. What was the negative side to simply storing and exchanging Gold?
13. Why was important for Slim
to go to
14. What was the positive effects of using receipts instead of gold?
15. How did Slim use this demand to check a monetary system for the town?
16. How much gold was redeemed in any one year? (Redeem means to take out)
17. Gus Malher borrowed $5000 and how much did he have to pay Slim (Bank) for the use of the money.
18. How did Slim create money for the bank?
19. Why did the people of Pine Gulch accept these receipts as currency?
20. How did Slim increase the money supply in Pine Gulch?
21. How did he decrease it?
22. Who benefited from this practice?
1. Slim become one of the richest men in Pine Gulch. How did he do this?
2. Why did Slim have to leave town after Big Bart shot him?
3. On a different sheet of paper, Draw what you think the original Bank first looked like?
4. Why did Slim take all the money in the bank?
5. How much money was left in the bank.
6. How much money in receipts were out in the community?
7. Were all or few people were going to get their money back? Circle the correct answer.
8. What does trust have to do with how people view the safety of their money in a bank.
9. How does Bank of America create money?