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 6
... Loans should be Contracted . CHAPTER V. INFLUENCE OF THE LEGAL TENDER NOTES ON PRI- VATE FAITH AND THE BUSINESS OF THE COUN- TRY , Laws of Value of the Currency - Effects of Depreciation on Banks , etc . , - Effects of Depreciation on ...
... Loans should be Contracted . CHAPTER V. INFLUENCE OF THE LEGAL TENDER NOTES ON PRI- VATE FAITH AND THE BUSINESS OF THE COUN- TRY , Laws of Value of the Currency - Effects of Depreciation on Banks , etc . , - Effects of Depreciation on ...
Page 15
... loans and levying taxes , so that the end really aimed at was almost lost sight of , and to this circumstance all the mistakes that were made may perhaps be traced . The attention of the reader is called to the means employed to attain ...
... loans and levying taxes , so that the end really aimed at was almost lost sight of , and to this circumstance all the mistakes that were made may perhaps be traced . The attention of the reader is called to the means employed to attain ...
Page 39
... loans , unless the payers can earn more than they need for their own consumption ; nor will there be any supplies in the market unless more goods are manufactured than are needed by the country at large . Let us suppose that our soil ...
... loans , unless the payers can earn more than they need for their own consumption ; nor will there be any supplies in the market unless more goods are manufactured than are needed by the country at large . Let us suppose that our soil ...
Page 41
... loans in gold , with which it hopes to purchase supplies for its armies . It purchases from a manufacturer clothing which the latter would otherwise exchange for bread . In lieu of the clothing he must now offer gold for his bread . It ...
... loans in gold , with which it hopes to purchase supplies for its armies . It purchases from a manufacturer clothing which the latter would otherwise exchange for bread . In lieu of the clothing he must now offer gold for his bread . It ...
Page 42
... loans or by taxa- tion . We have seen them in France in the time of the revolution ; in England during the Napoleonic wars ; and we see them in the rebel states now . They are the true and only indications that the resources of the ...
... loans or by taxa- tion . We have seen them in France in the time of the revolution ; in England during the Napoleonic wars ; and we see them in the rebel states now . They are the true and only indications that the resources of 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.