Thinking about this chart...
As each currency was replaced by the next, how was the new currency valued? How did they value the dollar, over the Pound Stirling?
As a unit of account, the idea is to be able to quickly understand the value, as in how much labor you need to earn one unit. Correct?
I'm guessing this didn't happen quickly, where they had duel currencies that competed until the consensus chose the new currency over the previous. It would be an interesting history lesson. I know in the American colonies several currencies circulated simultaneously and competed.
