Free Banking a Natural Right
Free Banking a Natural Right
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In our eReader you can find the full English version of the book. Read Free Banking a Natural Right 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 Free Banking a Natural Right
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It is indeed true that national currency and national-bank notes have given the public a most convenient cur- rency with which to travel, but not more so than that possessed by the English people, whose banks are all private corporations, and where the Government is not responsible for the payment of the notes.
The usefulness of the national bank has been much overestimated, while its bad features have not been well understood. To the na- tional banks a monopoly was given when they were first e...stablished — and intentionally so. Those national banks organized in 1863 and 1864, which, also, were not dragooned into organizing under a national charter, were so FREE BANKING. 115 organized in consequence of a stimulus, the substance of which was monopoly. The weaker State-banks were dragooned into organizing themselves into national banks be- cause of the necessity either to abandon busi- ness or to adopt the new national-bank system. In New York, as well as in several other States, the bonds held as security by the State for redemption of circulating notes were quite as valuable as the United States bonds.
What to read after Free Banking a Natural Right?
You can find similar books in the "Read Also" column, or choose other free books by James a B Dilworth to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is indeed true that national currency and national-bank notes have given the public a most convenient cur- rency with which to travel, but not more so than that possessed by the English people, whose banks are all private corporations, and where the Government is not responsible for the payment of the notes.
The usefulness of the national bank has been much overestimated, while its bad features have not been well understood. To the na- tional banks a monopoly was given when they were first e...stablished — and intentionally so. Those national banks organized in 1863 and 1864, which, also, were not dragooned into organizing under a national charter, were so FREE BANKING. 115 organized in consequence of a stimulus, the substance of which was monopoly. The weaker State-banks were dragooned into organizing themselves into national banks be- cause of the necessity either to abandon busi- ness or to adopt the new national-bank system. In New York, as well as in several other States, the bonds held as security by the State for redemption of circulating notes were quite as valuable as the United States bonds.
What to read after Free Banking a Natural Right?
You can find similar books in the "Read Also" column, or choose other free books by James a B Dilworth to read onlineMoreLess
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