The book Refunding the Public Debt Financial Policy of the Secretary of the Treasury Ca was written by author Fernando Wood Here you can read free online of Refunding the Public Debt Financial Policy of the Secretary of the Treasury Ca book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Refunding the Public Debt Financial Policy of the Secretary of the Treasury Ca a good or bad book?
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It will be seen, therefore, that there can be no doubt of the cancellation of $40, 000, 000 per annum of these notes. The fourth section continues the operation of the ten-dollar-certificate law, with some important changes. The original act was defective in its provisions for the prevention of evasion of the benevolent intention of the law. Immediately upon its passage combinations were formed for the funding of the certificates which were sold at par, while they were at the same time worth a ...premium in the open market. This evil the pres- ent bill will prevent. The Secretary has authority in addition to con- tinue the issuance of the certificates so long as it shall appear advanta- geous to the classes which it is supposed will take them. As a safe de- pository for the surplus earnings of the industrial classes this law will be of inestimable value. Another section makes it compulsory upon the national banks to de- posit with the Treasurer no other bond as security for circulation. Thus by a long-needed provision of law we shall have a national-bank bond, and the Government will be spared the trouble and expense of constant changes in this class of securities held for that purpose.
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