Remarks On the Present State of Currency Credit Commerce And National Industr
Remarks On the Present State of Currency Credit Commerce And National Industr
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To supply the demands which its long continuance had occasioned, an active, though ephemeral commerce commenced. Its efforts to restore the equilibrium between supply and demand, price and value, which had been long dis- turbed by war, or suspended by force, have swept a great capital of the metallic money from Europe and America, to Asia, from which it will not soon, if ever, return. The scarcity of money has been farther in- creased by the wars in Spanish America, which have prevented the cus...tomary supplies of gold and silver from the mines.
The states of Europe which have been most provi- dent, have protected themselves from excessive impor- tations, by restrictions upon commerce and high duties ; the manufactures of Germany and the United States have been, in a great measure, suspended by those of Great Britain ; every where external commerce has been arrested, and the balloon of unsupported paper credit is descending to the earth.
This summary review of historical facts has appear- ed to me necessary, before we contemplate our situa- tion, and discern the remedies of which it is suscepti- ble ; while it evinces that our embarrassments are not without precedent even in this country, it demonstrates how much the comfort, tranquillity, and peace of na- tions, are effected by systems of commerce and finance.
What to read after Remarks On the Present State of Currency Credit Commerce And National Industr?
You can find similar books in the "Read Also" column, or choose other free books by Oliver Wolcott to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
To supply the demands which its long continuance had occasioned, an active, though ephemeral commerce commenced. Its efforts to restore the equilibrium between supply and demand, price and value, which had been long dis- turbed by war, or suspended by force, have swept a great capital of the metallic money from Europe and America, to Asia, from which it will not soon, if ever, return. The scarcity of money has been farther in- creased by the wars in Spanish America, which have prevented the cus...tomary supplies of gold and silver from the mines.
The states of Europe which have been most provi- dent, have protected themselves from excessive impor- tations, by restrictions upon commerce and high duties ; the manufactures of Germany and the United States have been, in a great measure, suspended by those of Great Britain ; every where external commerce has been arrested, and the balloon of unsupported paper credit is descending to the earth.
This summary review of historical facts has appear- ed to me necessary, before we contemplate our situa- tion, and discern the remedies of which it is suscepti- ble ; while it evinces that our embarrassments are not without precedent even in this country, it demonstrates how much the comfort, tranquillity, and peace of na- tions, are effected by systems of commerce and finance.
What to read after Remarks On the Present State of Currency Credit Commerce And National Industr?
You can find similar books in the "Read Also" column, or choose other free books by Oliver Wolcott to read onlineMoreLess
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