Money Its Uses And Abuses Coinage National Bonds Curency And Banking Illus
Money Its Uses And Abuses Coinage National Bonds Curency And Banking Illus
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In our eReader you can find the full English version of the book. Read Money Its Uses And Abuses Coinage National Bonds Curency And Banking Illus 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 Money Its Uses And Abuses Coinage National Bonds Curency And Banking Illus
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To quickly assess the difficulty of the text, read a short excerpt:
For the purpose then of exposing this popular delusion, and bringing the people to see, that it is their deposits, and their property, or its avails, which furnishes the capital — that the enrichment of the banker, and capitalists, at their expense by law, is the object of the system.
We have shown, that deposits constituted the only available capital of the Bank of England. That its funds were loaned to the Government, and the issue of bank-notes, in the first instance not on gold and silver, ...but upon promissory notes and bills of exchange which had not even the poor merit of being due. It was for the pui-pose of speculating in these securities, that these bills were first issued in large quantities. Through this same instrumentality the practice is not only continued, but ninety- nine dollars out of every hundred of the fund for redemption of these bank-notes, comes from securities given for the people's property, and lodged in the Bank.
If it is not seen, that the potency of the bank-paper, is derived from the necessity of having it to meet the demand for the pay- ment of the notes lodged with the Bank, when there is no other fund for their redemption.
What to read after Money Its Uses And Abuses Coinage National Bonds Curency And Banking Illus?
You can find similar books in the "Read Also" column, or choose other free books by Lyman E De Wolf to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
For the purpose then of exposing this popular delusion, and bringing the people to see, that it is their deposits, and their property, or its avails, which furnishes the capital — that the enrichment of the banker, and capitalists, at their expense by law, is the object of the system.
We have shown, that deposits constituted the only available capital of the Bank of England. That its funds were loaned to the Government, and the issue of bank-notes, in the first instance not on gold and silver, ...but upon promissory notes and bills of exchange which had not even the poor merit of being due. It was for the pui-pose of speculating in these securities, that these bills were first issued in large quantities. Through this same instrumentality the practice is not only continued, but ninety- nine dollars out of every hundred of the fund for redemption of these bank-notes, comes from securities given for the people's property, and lodged in the Bank.
If it is not seen, that the potency of the bank-paper, is derived from the necessity of having it to meet the demand for the pay- ment of the notes lodged with the Bank, when there is no other fund for their redemption.
What to read after Money Its Uses And Abuses Coinage National Bonds Curency And Banking Illus?
You can find similar books in the "Read Also" column, or choose other free books by Lyman E De Wolf to read onlineMoreLess
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