Biography of Millard Fillmore volume 1
Biography of Millard Fillmore volume 1
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In our eReader you can find the full English version of the book. Read Biography of Millard Fillmore volume 1 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Biography of Millard Fillmore volume 1
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Then, as many which are solvent will not want it, there will be enough to redeem all the bills of those which shall prove insolvent. This is doubted. This fund, instead of being sufficient to redeem the notes of all 'insolvent banks, would probably for a time give just credit enough to the fraudulent associations which would be formed, to enable them to get their notes in circulation, and then by withdrawing their capi- tal the more effectually defraud the community. It is believed to be wholly... inadequate for the object intended.
" The Comptroller believes that the safest way to make a sound paper currency, is to have at all times ample security for its redemption in the possession of the State. In order to make this security ample, it should be not only sufficient in amount, but should be of such a nature that it may be readily converted into cash without loss. It is not enough that the security be ultimately good or collectable; delay in redeeming the circulation causes it to depreciate, and is almost as fatal to the poor man who can not wait, as ultimate insolvency.
What to read after Biography of Millard Fillmore volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Ivory Chamberlain to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Then, as many which are solvent will not want it, there will be enough to redeem all the bills of those which shall prove insolvent. This is doubted. This fund, instead of being sufficient to redeem the notes of all 'insolvent banks, would probably for a time give just credit enough to the fraudulent associations which would be formed, to enable them to get their notes in circulation, and then by withdrawing their capi- tal the more effectually defraud the community. It is believed to be wholly... inadequate for the object intended.
" The Comptroller believes that the safest way to make a sound paper currency, is to have at all times ample security for its redemption in the possession of the State. In order to make this security ample, it should be not only sufficient in amount, but should be of such a nature that it may be readily converted into cash without loss. It is not enough that the security be ultimately good or collectable; delay in redeeming the circulation causes it to depreciate, and is almost as fatal to the poor man who can not wait, as ultimate insolvency.
What to read after Biography of Millard Fillmore volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Ivory Chamberlain to read onlineMoreLess
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