A Critical Examination of Our Financial Policy During the Southern Rebellion. by Simon Newcomb.Scholarly Publishing Office, University of Michigan Library, 1865 - 232 pages |
From inside the book
Results 1-5 of 36
Page 29
... capital is exhausted . During this time the prices of all ex- portable goods would rise to correspond with the speculators ' price of gold , if it were certain that the capital of the firm would hold out until the gold could be got from ...
... capital is exhausted . During this time the prices of all ex- portable goods would rise to correspond with the speculators ' price of gold , if it were certain that the capital of the firm would hold out until the gold could be got from ...
Page 48
... capital thus accumulated . Gold and silver coin is , in the strictest sense , unproductive capital , whether lying in the vaults of banks , or locked up in a miser's chest , or circulating as money . Every man who has it in his ...
... capital thus accumulated . Gold and silver coin is , in the strictest sense , unproductive capital , whether lying in the vaults of banks , or locked up in a miser's chest , or circulating as money . Every man who has it in his ...
Page 50
... capital , while it adds to the enjoyment of the community , detracts from its power to meet a sudden emergency . Where the amount of idle capital is reduced to its minimum , there will be less coin to place at the disposal of the ...
... capital , while it adds to the enjoyment of the community , detracts from its power to meet a sudden emergency . Where the amount of idle capital is reduced to its minimum , there will be less coin to place at the disposal of the ...
Page 51
... capital has been invested in such a form that it can be rapidly transformed into the required food , cloth- ing , and arms . The whole problem , then , depends on this question : What will be done with the capi- tal set free in the ways ...
... capital has been invested in such a form that it can be rapidly transformed into the required food , cloth- ing , and arms . The whole problem , then , depends on this question : What will be done with the capi- tal set free in the ways ...
Page 64
... capital is scarce , and accumulate in those sections where it is plenty . The debt which is held in the West will flow East in exchange for agricultural implements , steam machinery , and the products of our looms and 64 OUR DEBT AND ...
... capital is scarce , and accumulate in those sections where it is plenty . The debt which is held in the West will flow East in exchange for agricultural implements , steam machinery , and the products of our looms and 64 OUR DEBT AND ...
Common terms and phrases
actually amount argument army assignats barrels of flour bill bonds borrow capital cause circulation cloth Congress considered Continental Congress creditor currency debtor demand notes depreciating currency depreciation direct tax effects enacted entire equivalent ernment evil exchange export fact faith farmer give gold coin gold dollar gold value Government government bonds holder Honorable Secretary illustrated increase individual interest labor laws of value legal tender clause legal tender notes less levy loans of coin manufacturer measure ment millions National Bank national debt necessary obliged opinion paid in coin paper money payable pound sterling present price of gold principles productive profits promise public credit public debt question raise reason receive redeemable redemption rise savings bank sell six per cent specie payments speculators supply supposed thing tion Treasury United States notes wealth worth
Popular passages
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.