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 12
... receive the greatest possible benefit in return ; and that thus , while every man would really be working from pure selfishness , that very motive would lead him to exert himself so as to do the greatest good to the community . It has ...
... receive the greatest possible benefit in return ; and that thus , while every man would really be working from pure selfishness , that very motive would lead him to exert himself so as to do the greatest good to the community . It has ...
Page 13
... receive in exchange for their goods , but for the benefit of the commonwealth . True , if men were neither indolent nor selfish the community would then enjoy nearly as much wealth as they actually do ; but the fact is that men always ...
... receive in exchange for their goods , but for the benefit of the commonwealth . True , if men were neither indolent nor selfish the community would then enjoy nearly as much wealth as they actually do ; but the fact is that men always ...
Page 14
... receive in exchange something which he prefers to them . No man will work two days , or give two dollars for an object of desire , when he can get it for one . Any government polity which supposes men , in managing their money matters ...
... receive in exchange something which he prefers to them . No man will work two days , or give two dollars for an object of desire , when he can get it for one . Any government polity which supposes men , in managing their money matters ...
Page 23
... receive pieces of gold from his subjects , cunningly increased the amount of gold in the aureus ; * and the kings of England , when they found their debts pressing heavily , diminished the weight of the pound sterling , in order that ...
... receive pieces of gold from his subjects , cunningly increased the amount of gold in the aureus ; * and the kings of England , when they found their debts pressing heavily , diminished the weight of the pound sterling , in order that ...
Page 24
... receive thirty of the new yards as an equivalent . 4. Although , by such changes in the standard of value , the equilibrium of prices may be tempo- rarily disturbed , this disturbance cannot be perma- nent . The disturbance is felt in ...
... receive thirty of the new yards as an equivalent . 4. Although , by such changes in the standard of value , the equilibrium of prices may be tempo- rarily disturbed , this disturbance cannot be perma- nent . The disturbance is felt in ...
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.