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able actually advantage amount argument authority bank bill bonds borrow capital cause cent chapter circulation circumstances cloth coin Congress considered continued contracted creditor currency debt demand depreciation desire dollar effects entire equally evil exchange experience fact faith fall farmer follows future give gold Government half hands holder illustrated increase individual interest issue labor latter legal tender notes less loans loss manufacturer means measure ment millions nature necessary never object obliged obtain operation opinion paid paper money payment possession possible present principles productive profits promise public debt question raise reason receive redeemable respect rise savings sell share specie standard supply supposed thing tion Treasury true wealth worth
Page 99 - ... lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid.
Page 188 - ... periods; property of any sort, however worthless, either real or personal, might be tendered by the debtor in payment of his debts; and the creditor was compelled to take the property of the debtor, which he might seize on execution, at an appraisement wholly disproportionate to its known value. Such grievances and oppressions, and others of a like nature, were the ordinary results of legislation during the revolutionary war and the intermediate period down to the formation of the constitution....
Page 179 - ... notes, but to establish discriminations in business against those who. in this matter, give a cordial support to the Government, and in favor of those who do not. Such discriminations should, if possible, be prevented ; and the provision making the notes a legal tender, in a great measure at least, prevents it, by putting all citizens, in this respect, on the same level, both of rights and duties.