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 2
... to Act of Congress , in the year 1865 , by D. APPLETON & COMPANY , In the Clerk's Office of the District Court of the United States for the Southern District of New York . 4 1 PREFACE . 2- THE objects of the following.
... to Act of Congress , in the year 1865 , by D. APPLETON & COMPANY , In the Clerk's Office of the District Court of the United States for the Southern District of New York . 4 1 PREFACE . 2- THE objects of the following.
Page 3
Simon Newcomb. 4 1 PREFACE . 2- THE objects of the following essay are to trace our present financial system to its effects on the power of our Government , the perma- nence of our institutions , the future well- being of society , and ...
Simon Newcomb. 4 1 PREFACE . 2- THE objects of the following essay are to trace our present financial system to its effects on the power of our Government , the perma- nence of our institutions , the future well- being of society , and ...
Page 4
... the eigh teenth . Their object is therefore less to de- velop a complete system of ideas than to amend the most serious defects in the popu lar Political Economy . CONTENTS . MONEY AND TRADE , CHAPTER I. The Laws 4 PREFACE .
... the eigh teenth . Their object is therefore less to de- velop a complete system of ideas than to amend the most serious defects in the popu lar Political Economy . CONTENTS . MONEY AND TRADE , CHAPTER I. The Laws 4 PREFACE .
Page 5
... Object of a Government Financial System - Popular Errors re- specting Finance - The Laws of Value - Popular Theo- ries respecting the Degradation of our Standard - Spec- ulation - The Money Market ; what Controls it ? PAGE 9 CHAPTER II ...
... Object of a Government Financial System - Popular Errors re- specting Finance - The Laws of Value - Popular Theo- ries respecting the Degradation of our Standard - Spec- ulation - The Money Market ; what Controls it ? PAGE 9 CHAPTER II ...
Page 13
... . Political economy as a pure science is founded on this postulate of human nature : that every man will dispose of his labor in such a way as to pro- mote to the greatest possible extent the objects of his MONEY AND TRADE . 13.
... . Political economy as a pure science is founded on this postulate of human nature : that every man will dispose of his labor in such a way as to pro- mote to the greatest possible extent the objects of his MONEY AND TRADE . 13.
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.