UMBC's own Devon Fick presents his research at URCAD, April 18-24, 2022 Online!
URCAD.umbc.edu
"Monopoly Money": A Study Of Military Payment Certificates (MPC's) In Vietnam
Presenter: Devon Fick
Mentor: Meredith Oyen (History)
This presentation will focus on the production and dissemination of Military Payment Certificates (MPC’s) in Vietnam from 1965-1973. Developed after WWII for the purpose of stabilizing local currency and preventing exchange-rate corruption involving the desirable American dollar, the MPC initiative was relatively successful throughout the 1950's and into the early years of American involvement in Vietnam. However, as the war dragged on, and systemic leadership and organizational problems at all levels became commonplace, the MPC became the very thing it was designed to deter; a hopelessly corrupt and abused form of currency. This presentation will show how MPC’s were viewed by American servicemen and Vietnamese merchants and citizens and the frequently-evolving laws governing their use. The highly contentious “C-Days” (Conversion Days) when American servicemen were required to remain on base so that a new series of MPC could be issued, will be described as well as the aftermath of these days which often led to increased graft and even violence. The colorful banknotes will also make for a highly-visual presentation and also include interviews with three Vietnam veterans who will describe their personal experiences with this military currency.