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 20
... sell for in the public market . To say that men ought to give more or less than they do , because the bonds are really worth more or less , is as idle as to say that stones ought to float , or wood sink . The financier is not concerned ...
... sell for in the public market . To say that men ought to give more or less than they do , because the bonds are really worth more or less , is as idle as to say that stones ought to float , or wood sink . The financier is not concerned ...
Page 21
... sell for as much as four barrels of flour . So long as an ounce of gold can be got as * When Vanderbilts arise in sufficient number to give us an iron- clad navy , it will be time to cite examples of patriotic munificence as exceptions ...
... sell for as much as four barrels of flour . So long as an ounce of gold can be got as * When Vanderbilts arise in sufficient number to give us an iron- clad navy , it will be time to cite examples of patriotic munificence as exceptions ...
Page 22
... sell for as much as the former . 2. The relative value of articles , thus fixed , fluc- tuates under the influence of variations in the sup- ply and demand . But the equilibrium cannot be permanently changed by the action of these ...
... sell for as much as the former . 2. The relative value of articles , thus fixed , fluc- tuates under the influence of variations in the sup- ply and demand . But the equilibrium cannot be permanently changed by the action of these ...
Page 24
... sell for two new ones in the market , it is difficult to conceive that this does not proceed in part from an increase in the value of the old one . The illusion can be completely eradicated only by remembering that the gold mines yield ...
... sell for two new ones in the market , it is difficult to conceive that this does not proceed in part from an increase in the value of the old one . The illusion can be completely eradicated only by remembering that the gold mines yield ...
Page 26
... , without work- ing any harder for it . The merchant makes twice as much money by buying and selling the same act- ual amount of goods , the butcher gets two or three 4 corn . times as much for his meat , and 26 MONEY AND TRADE .
... , without work- ing any harder for it . The merchant makes twice as much money by buying and selling the same act- ual amount of goods , the butcher gets two or three 4 corn . times as much for his meat , and 26 MONEY AND TRADE .
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.