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 7
... Specie Payments been maintained - Ought the Notes to be Irredeemable ? —Ought they to have been Legal Ten- der for Principal of the Public Debt ? -Was it neces- sary that they should be a Legal Tender for Private Debts ? -Examination of ...
... Specie Payments been maintained - Ought the Notes to be Irredeemable ? —Ought they to have been Legal Ten- der for Principal of the Public Debt ? -Was it neces- sary that they should be a Legal Tender for Private Debts ? -Examination of ...
Page 41
... by prohibiting the export of specie and by issuing paper money , the consequence will be a universal rise in the prices of the neces- saries required by the people and the army , so FINANCIAL ELEMENTS OF MILITARY STRENGTH . 41.
... by prohibiting the export of specie and by issuing paper money , the consequence will be a universal rise in the prices of the neces- saries required by the people and the army , so FINANCIAL ELEMENTS OF MILITARY STRENGTH . 41.
Page 49
... specie reserve of a money bank . As fast as one man sent in checks for his cloth , another would come in with a new deposit ; and if , on any extraordinary occa- sion , the drafts should exceed the new deposits by an amount greater than ...
... specie reserve of a money bank . As fast as one man sent in checks for his cloth , another would come in with a new deposit ; and if , on any extraordinary occa- sion , the drafts should exceed the new deposits by an amount greater than ...
Page 89
... specie payments by the banks at the end of 1861. There would be a general flow of the demand notes to the Treasury for redemption . To prevent this flow the Treasury ignobly followed the example of the banks , by refusing to redeem the ...
... specie payments by the banks at the end of 1861. There would be a general flow of the demand notes to the Treasury for redemption . To prevent this flow the Treasury ignobly followed the example of the banks , by refusing to redeem the ...
Page 101
... his sense of justice shall be correct and delicate , than that he shall have ready money . The legal tender notes naturally grew out of the suspension of specie payments by the treasury two months before LEGAL TENDER NOTES . 101.
... his sense of justice shall be correct and delicate , than that he shall have ready money . The legal tender notes naturally grew out of the suspension of specie payments by the treasury two months before LEGAL TENDER NOTES . 101.
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.