A History of Currency in the United States
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During the crisis, money was hoarded, and despite the great supply (nearly $24 per capita) a currency "famine" ensued and premiums as high as 4 per cent, were paid for currency of any kind, even silver dollars. The banks in the principal Eastern cities were compelled to curtail cash payments. The use of clearing-house loan certificates in large amounts was resorted to throughout the country as well as various other forms of obligation designed to perform the functions of currency.
Shortly after... the panic or currency famine of 1893, by means of extensive correspondence with every considerable place in the coun- try, the writer obtained statistics which justify the estimate that there were issued fully $100, 000, 000 of clearing-house certificates used in settlement between banks, of certified checks, certificates of deposit, cashier's checks in round amounts (as $i, $5, $10, $20, and $50), due bills from manufacturers and other employers of labor, and clearing-house certificates, in round amounts (in the case of Birmingham, Ala.
What to read after A History of Currency in the United States?
You can find similar books in the "Read Also" column, or choose other free books by A Barton Alonzo Barton Hepburn to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
During the crisis, money was hoarded, and despite the great supply (nearly $24 per capita) a currency "famine" ensued and premiums as high as 4 per cent, were paid for currency of any kind, even silver dollars. The banks in the principal Eastern cities were compelled to curtail cash payments. The use of clearing-house loan certificates in large amounts was resorted to throughout the country as well as various other forms of obligation designed to perform the functions of currency.
Shortly after... the panic or currency famine of 1893, by means of extensive correspondence with every considerable place in the coun- try, the writer obtained statistics which justify the estimate that there were issued fully $100, 000, 000 of clearing-house certificates used in settlement between banks, of certified checks, certificates of deposit, cashier's checks in round amounts (as $i, $5, $10, $20, and $50), due bills from manufacturers and other employers of labor, and clearing-house certificates, in round amounts (in the case of Birmingham, Ala.
What to read after A History of Currency in the United States?
You can find similar books in the "Read Also" column, or choose other free books by A Barton Alonzo Barton Hepburn to read onlineMoreLess
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