Remarks Upon Usury And Its Effects: a National Bank a Remedy;
Remarks Upon Usury And Its Effects: a National Bank a Remedy;
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Many would leave the houses ; some might be so situated as to be compelled to stay; and should he insist that the additional rent should be paid or the houses closed — he has a right to do this — his means are so great that he could do it without inconvenience to himself — the damage to the community would not be very great; at most it would be of very brief continuance. Other houses- could and would be built. He might, and no doubt would, be loudly censured as an extortioner ; and yet in this ...advance of his rents he has only added oi^ and a half ^ per cent, per annum to the interest or use of his capital invested.
Nowy suppose the same individual has the 8am« Digitized by Google 41 amount of capital in money on depoBite in bank, or eren one half that sum, say $2,500,000, and on a Friday should draw it in bank notes and carry them home. On Saturday the banks, fifiding their circu- lation increased to that extent, would discount little or nothing. On l^onday he might privately em- ploy the usurers' convenient friend, the broker, and draw $2,500,000 in specie, under pretence that it was wanted for shipment.
What to read after Remarks Upon Usury And Its Effects: a National Bank a Remedy;?
You can find similar books in the "Read Also" column, or choose other free books by Edward Kellogg to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Many would leave the houses ; some might be so situated as to be compelled to stay; and should he insist that the additional rent should be paid or the houses closed — he has a right to do this — his means are so great that he could do it without inconvenience to himself — the damage to the community would not be very great; at most it would be of very brief continuance. Other houses- could and would be built. He might, and no doubt would, be loudly censured as an extortioner ; and yet in this ...advance of his rents he has only added oi^ and a half ^ per cent, per annum to the interest or use of his capital invested.
Nowy suppose the same individual has the 8am« Digitized by Google 41 amount of capital in money on depoBite in bank, or eren one half that sum, say $2,500,000, and on a Friday should draw it in bank notes and carry them home. On Saturday the banks, fifiding their circu- lation increased to that extent, would discount little or nothing. On l^onday he might privately em- ploy the usurers' convenient friend, the broker, and draw $2,500,000 in specie, under pretence that it was wanted for shipment.
What to read after Remarks Upon Usury And Its Effects: a National Bank a Remedy;?
You can find similar books in the "Read Also" column, or choose other free books by Edward Kellogg to read onlineMoreLess
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