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
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Page 6
... . NECESSITY OF PAPER MONEY - THE LESSONS OF HIS- TORY . Popular Views - The English Bank Money - Continental Money , what it did - Rise and Fall of Assignats . 146 CHAPTER VII . WERE LEGAL TENDER NOTES NECESSARY ? The 6 CONTENTS .
... . NECESSITY OF PAPER MONEY - THE LESSONS OF HIS- TORY . Popular Views - The English Bank Money - Continental Money , what it did - Rise and Fall of Assignats . 146 CHAPTER VII . WERE LEGAL TENDER NOTES NECESSARY ? The 6 CONTENTS .
Page 16
... fall in stocks , and every rise in gold attributed to some cause , but how the cause pro- duces the effect is left as much a mystery as how a comet or an eclipse used to cause the death of a king or the fall of an empire . The money ...
... fall in stocks , and every rise in gold attributed to some cause , but how the cause pro- duces the effect is left as much a mystery as how a comet or an eclipse used to cause the death of a king or the fall of an empire . The money ...
Page 19
... fall , and effects of the Continental money , would have been invaluable when it was first proposed to issue greenbacks . Still more valuable would have been the advice of Mr. John Stuart Mill , because he not only knew what had been ...
... fall , and effects of the Continental money , would have been invaluable when it was first proposed to issue greenbacks . Still more valuable would have been the advice of Mr. John Stuart Mill , because he not only knew what had been ...
Page 20
... to either argument . During the winter of 1862 - ' 3 the value of 20 year six per cent . bonds gradually fell far below that of legal tender notes . During the fall the public was almost daily lectured on the 20 MONEY AND TRADE .
... to either argument . During the winter of 1862 - ' 3 the value of 20 year six per cent . bonds gradually fell far below that of legal tender notes . During the fall the public was almost daily lectured on the 20 MONEY AND TRADE .
Page 21
... fall until , with the improvement in the military situation , and the increased issue of notes , the money market slackened , and the demand for the bonds began , from this cause , to increase . Deeds , not words , is emphati- cally the ...
... fall until , with the improvement in the military situation , and the increased issue of notes , the money market slackened , and the demand for the bonds began , from this cause , to increase . Deeds , not words , is emphati- cally the ...
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.