History of the Monetary Legislation And of the Currency System of the United Sta
History of the Monetary Legislation And of the Currency System of the United Sta
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In our eReader you can find the full English version of the book. Read History of the Monetary Legislation And of the Currency System of the United Sta 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 History of the Monetary Legislation And of the Currency System of the United Sta
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90. Up to March 13, 1896, the green- backs fully redeemed since January i, 1879, amounted to $386, 000, 000. As these $386, 000, 000 were reissued, they are in the nature of a new forced loan which must yet be paid, and, therefore, charged as part of the cost of our mone- tary system since 1879. The expenditure account, there- fore stands thus : Borrowed to maintain the reserve ^250, 000, 000 Interest on average reserve for 17 years 93, 800, 271 Depreciation of silver purchased under Bland and ...Sherman Acts. . 161, 537, 737 Legal tenders redeemed but re-issued 386, 000, 000 Total ^891, 338, 008 And this does not include interest on the loans made dur- ing the last two years to maintain the gold reserve.
In a few more years, if the same causes are allowed to operate, the cost of our monetary system since 1879 will be $1, 000, 000, 000, or fully as much as the enormous sum France had to pay to Germany as an indemnity after the Franco-Prussian War of 1870-71, and consid- erably more than one-third of our national debt after the close of the war of secession, when (August 31, 1865) it amounted to $2, 844, 649, 626.
What to read after History of the Monetary Legislation And of the Currency System of the United Sta?
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To quickly assess the difficulty of the text, read a short excerpt:
90. Up to March 13, 1896, the green- backs fully redeemed since January i, 1879, amounted to $386, 000, 000. As these $386, 000, 000 were reissued, they are in the nature of a new forced loan which must yet be paid, and, therefore, charged as part of the cost of our mone- tary system since 1879. The expenditure account, there- fore stands thus : Borrowed to maintain the reserve ^250, 000, 000 Interest on average reserve for 17 years 93, 800, 271 Depreciation of silver purchased under Bland and ...Sherman Acts. . 161, 537, 737 Legal tenders redeemed but re-issued 386, 000, 000 Total ^891, 338, 008 And this does not include interest on the loans made dur- ing the last two years to maintain the gold reserve.
In a few more years, if the same causes are allowed to operate, the cost of our monetary system since 1879 will be $1, 000, 000, 000, or fully as much as the enormous sum France had to pay to Germany as an indemnity after the Franco-Prussian War of 1870-71, and consid- erably more than one-third of our national debt after the close of the war of secession, when (August 31, 1865) it amounted to $2, 844, 649, 626.
What to read after History of the Monetary Legislation And of the Currency System of the United Sta?
You can find similar books in the "Read Also" column, or choose other free books by Robert E Preston to read onlineMoreLess
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