Economics for Upper Grades
Economics for Upper Grades
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In our eReader you can find the full English version of the book. Read Economics for Upper Grades 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 Economics for Upper Grades
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These bills were the promises or pledges of the Government to pay as many dollars in coin as was printed on the face of the bill. The bills were used to pay for supplies and the wages of soldiers. The Government, however, was not able for a time to keep its promises and to pay specie, that is, the coined money of commerce, to merchants and others who wanted it. On the contrary, the quantity of paper notes was so great that some feared lest, as in the case of the continental currency of the Revo...lutionary War, the bills would never be paid. It happened finally that almost three paper dollars were required to get the value of one gold dollar. The value of the paper dollar varied with every victory or defeat of the national arms. The gold and silver were hoarded away or sent abroad to pay the merchant's debts. This was because the paper dollar no longer told the truth.
Specie payments. — After the Civil War, as soon as confidence was restored that the Government could keep its promises, the paper money rose in value.
What to read after Economics for Upper Grades?
You can find similar books in the "Read Also" column, or choose other free books by Charles F Charles Fletcher Dole to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
These bills were the promises or pledges of the Government to pay as many dollars in coin as was printed on the face of the bill. The bills were used to pay for supplies and the wages of soldiers. The Government, however, was not able for a time to keep its promises and to pay specie, that is, the coined money of commerce, to merchants and others who wanted it. On the contrary, the quantity of paper notes was so great that some feared lest, as in the case of the continental currency of the Revo...lutionary War, the bills would never be paid. It happened finally that almost three paper dollars were required to get the value of one gold dollar. The value of the paper dollar varied with every victory or defeat of the national arms. The gold and silver were hoarded away or sent abroad to pay the merchant's debts. This was because the paper dollar no longer told the truth.
Specie payments. — After the Civil War, as soon as confidence was restored that the Government could keep its promises, the paper money rose in value.
What to read after Economics for Upper Grades?
You can find similar books in the "Read Also" column, or choose other free books by Charles F Charles Fletcher Dole to read onlineMoreLess
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