Financial History 145 Spring 2023 | Page 4

The magazine of the Museum of American Finance

in association with the Smithsonian Institution

Issue 145 • Spring 2023 ( ISSN 1520-4723 )

Kristin Aguilera Editor

12 What I Learned About Investing from Darwin

Applying the rules of natural selection to the world of investing .

EDITORIAL ADVISORY BOARD

Howard A . Baker , Esq . Howard Baker Associates Lawrence A . Cunningham The George Washington University Peter C . Earle American Institute for Economic Research Brian Grinder Eastern Washington University Gregory DL Morris Freelance Journalist Susie Pak St . John ’ s University Arthur W . Samansky The Samansky Group Myles Thompson Columbia Business School Publishing Janice Traflet Bucknell University Robert E . Wright American Institute for Economic Research Jason Zweig The Wall Street Journal

ART DIRECTION Alan Barnett Design

16 Easy Money

The invention of modern currency in 1690 Massachusetts .

20 50 Years of Exchange-Traded Options

Cboe marks its golden anniversary .

24 Troubled Waters

How Americans ’ trade with China mixed opium with money .

MUSEUM STAFF David J . Cowen , President / CEO Kristin Aguilera , Deputy Director Robert Dinkelmann , IT / Technology Maura Ferguson , Director of Exhibits Sarah Poole , Collections Manager

Linda Rapacki , Managing Director of Visitor Services and Operations

Mindy Ross , Director , External Relations Ben Urizar , Assistant Director of Visitor Services

Copyright © 2023 by the Museum of American Finance , publisher . All rights reserved .

Financial History is the official membership magazine of the Museum of American Finance .

28 The Gold Standard and the Dakota War of 1862

Exploring the connection between one of the bloodiest events between the US government and Native Americans and US monetary history .

32 Saving British India

World war , international trade and the Pittman Act .

2 FINANCIAL HISTORY | Spring 2023 | www . MoAF . org