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 3
... illustrated in its workings ; and , incidentally , to inquire in what ways it may be improved . The work generally avoids those topics of merely passing import- ance , the discussion of which belongs to the daily press , and confines ...
... illustrated in its workings ; and , incidentally , to inquire in what ways it may be improved . The work generally avoids those topics of merely passing import- ance , the discussion of which belongs to the daily press , and confines ...
Page 28
... illustrated . Suppose that all the speculators in the country unite themselves into a firm for the express purpose of raising the price of gold . While the people at large are willing to sell their goods at double the gold price , this ...
... illustrated . Suppose that all the speculators in the country unite themselves into a firm for the express purpose of raising the price of gold . While the people at large are willing to sell their goods at double the gold price , this ...
Page 51
... illustrated in the case of the precious metals . To the question : Ought we to keep the gold in the country or export it ? the only philosophical answer is : that depends altogether on what you get in exchange for it . If you get some ...
... illustrated in the case of the precious metals . To the question : Ought we to keep the gold in the country or export it ? the only philosophical answer is : that depends altogether on what you get in exchange for it . If you get some ...
Page 57
... illustrated by a single in- stance . An individual of dramatic tastes would spend $ 1 in money and three hours of time in see- ing a play . The gratification he is to derive from this source must compensate him for his time and money ...
... illustrated by a single in- stance . An individual of dramatic tastes would spend $ 1 in money and three hours of time in see- ing a play . The gratification he is to derive from this source must compensate him for his time and money ...
Page 151
... , in general , that the military power which a people are able to put forth is not increased by the money circulating through the t channels of business . This general principle is illustrated by NECESSITY OF PAPER MONEY . 151.
... , in general , that the military power which a people are able to put forth is not increased by the money circulating through the t channels of business . This general principle is illustrated by NECESSITY OF PAPER MONEY . 151.
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.