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 12
... labor on condition that others should benefit them ; that they would dispose of their labor in such manner and give its products to such persons as to receive the greatest possible benefit in return ; and that thus , while every man ...
... labor on condition that others should benefit them ; that they would dispose of their labor in such manner and give its products to such persons as to receive the greatest possible benefit in return ; and that thus , while every man ...
Page 13
... labor necessary to their produc- tion , or their possession . It can also be shown that for a people to fix among themselves and mutually a standard of prices , such that every man will have to exchange his goods for so little money ...
... labor necessary to their produc- tion , or their possession . It can also be shown that for a people to fix among themselves and mutually a standard of prices , such that every man will have to exchange his goods for so little money ...
Page 14
... labor . The savage and the sage alike exhibit this character- istic , they differ only in the nature of their desires . On it is founded the science of Political Economy . All the conclusions of this science are perfectly true and quite ...
... labor . The savage and the sage alike exhibit this character- istic , they differ only in the nature of their desires . On it is founded the science of Political Economy . All the conclusions of this science are perfectly true and quite ...
Page 21
... labor necessary to its possession . If a barrel of flour costs three days ' labor , and a coat costs twelve , then one coat will , on the average , sell for as much as four barrels of flour . So long as an ounce of gold can be got as ...
... labor necessary to its possession . If a barrel of flour costs three days ' labor , and a coat costs twelve , then one coat will , on the average , sell for as much as four barrels of flour . So long as an ounce of gold can be got as ...
Page 25
... labor , before it is felt in those of which the labor of production can- not be exactly estimated . Sooner or later , however , all prices must change to correspond to the new standard . The price of no one article of general use can be ...
... labor , before it is felt in those of which the labor of production can- not be exactly estimated . Sooner or later , however , all prices must change to correspond to the new standard . The price of no one article of general use can be ...
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.