A Critical Examination of Our Financial Policy During the Southern Rebellion. by Simon Newcomb.Scholarly Publishing Office, University of Michigan Library, 1865 - 232 pages |
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Page 88
... circulation , and payment would be due whenever the holders chose to ask for it . A much larger sbt , in the form of interest - bearing treasury note would be due at various intervals during the nex three years . During the same period ...
... circulation , and payment would be due whenever the holders chose to ask for it . A much larger sbt , in the form of interest - bearing treasury note would be due at various intervals during the nex three years . During the same period ...
Page 90
... circulation , issued by authority of Congress , to the amount of some $ 35,000,000 each bearing the words " THE UNITED STATES WILL PAY THE BEAR- DOLLARS ON DEMAND . " The United States had not , at the moment , the necessary number of ...
... circulation , issued by authority of Congress , to the amount of some $ 35,000,000 each bearing the words " THE UNITED STATES WILL PAY THE BEAR- DOLLARS ON DEMAND . " The United States had not , at the moment , the necessary number of ...
Page 103
... circulation , would of itself have stopped the run on the Treasury in forty - eight hours after it was imposed . The banks would then have called in their notes as rapidly as possible , and there would have been a positive necessity for ...
... circulation , would of itself have stopped the run on the Treasury in forty - eight hours after it was imposed . The banks would then have called in their notes as rapidly as possible , and there would have been a positive necessity for ...
Page 142
... circulation . " Suppose , now , that our paper money system had been expressly designed to produce all the evils so graphically described by the Honorable Secretary , in what respect would it have been different from what it actually ...
... circulation . " Suppose , now , that our paper money system had been expressly designed to produce all the evils so graphically described by the Honorable Secretary , in what respect would it have been different from what it actually ...
Page 145
... circulation were annihilated to - morrow , it would be a very serious question whether it were not the best thing for the nation that could happen ; whether we would not come out of the commercial crash which would be the result a wiser ...
... circulation were annihilated to - morrow , it would be a very serious question whether it were not the best thing for the nation that could happen ; whether we would not come out of the commercial crash which would be the result a wiser ...
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.