Good Government Appeal of Peter Cooper Now in the 91st Year of His Age to All
Good Government Appeal of Peter Cooper Now in the 91st Year of His Age to All
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In our eReader you can find the full English version of the book. Read Good Government Appeal of Peter Cooper Now in the 91st Year of His Age to All 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 Good Government Appeal of Peter Cooper Now in the 91st Year of His Age to All
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They concentrate capital in financial centers, from which it is again distributed all over the country where it is most wanted. I regard a banking system, properly confined to the collecting and loaning out of tlie real capital, in aid of all useful enterprises, as a national blessing. But, incidentally, banks do a great deal of mis- chief by doing business, in part, on a bad system and on false as- sumptions. They often confound the distinction between credit and capital, and do business on cr...edit without capital. Credit must be distinguished from capital. Credit cannot be borrowed or lent; it can only be given, or exercised by one mind toward another. Capital is borrowed and lent, for it can be passed from hand to hand. The one is very necessary to the other; for capital supports credit, and credit sets capital to work in multiplying capital ; thus preventing the latter from waste and loss of it. Credit and capital, therefore, naturally imply each other, and are necessary to a mutual existence.
What to read after Good Government Appeal of Peter Cooper Now in the 91st Year of His Age to All?
You can find similar books in the "Read Also" column, or choose other free books by Peter Cooper to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
They concentrate capital in financial centers, from which it is again distributed all over the country where it is most wanted. I regard a banking system, properly confined to the collecting and loaning out of tlie real capital, in aid of all useful enterprises, as a national blessing. But, incidentally, banks do a great deal of mis- chief by doing business, in part, on a bad system and on false as- sumptions. They often confound the distinction between credit and capital, and do business on cr...edit without capital. Credit must be distinguished from capital. Credit cannot be borrowed or lent; it can only be given, or exercised by one mind toward another. Capital is borrowed and lent, for it can be passed from hand to hand. The one is very necessary to the other; for capital supports credit, and credit sets capital to work in multiplying capital ; thus preventing the latter from waste and loss of it. Credit and capital, therefore, naturally imply each other, and are necessary to a mutual existence.
What to read after Good Government Appeal of Peter Cooper Now in the 91st Year of His Age to All?
You can find similar books in the "Read Also" column, or choose other free books by Peter Cooper to read onlineMoreLess
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