Resumption And the Silver Question Embracing a Sketch of the Coinage And of Th
Resumption And the Silver Question Embracing a Sketch of the Coinage And of Th
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Russia is a notable example for the Secre- tary. She is under suspension, which, like that of the United States, is chronic. Resumption 'with either will be an end to its currency. The English Government never authorizes the Bank of England to suspend, only to exceed the amount of notes provided by law. It must pay coin all the same, notwithstanding.
A drain of five, ten, fifteen or twenty millions would, the Secretary tells us, at once bring up the greenbacks to a par with gold, and the drain ...would stop. How would five, ten, fifteen or twenty mill- ions of coin be drawn by means of notes, unless 94 RESUMPTION AND THE SILVER QUESTION.
the notes were at the par of coin ? And why- should the raising of the notes to par stop the drain ? Upon the principle stated by the Secre- tary, a drain of fifty millions might advance the notes to twenty-five per cent, premium ; a drain of a hundred to fifty per cent, premium ; a drain of two hundred might advance the value of the $140, - (X)0, 000 left outstanding so that they would com- mand at auction a greater sum than the present value of the whole.
What to read after Resumption And the Silver Question Embracing a Sketch of the Coinage And of Th?
You can find similar books in the "Read Also" column, or choose other free books by Henry Varnum Poor to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Russia is a notable example for the Secre- tary. She is under suspension, which, like that of the United States, is chronic. Resumption 'with either will be an end to its currency. The English Government never authorizes the Bank of England to suspend, only to exceed the amount of notes provided by law. It must pay coin all the same, notwithstanding.
A drain of five, ten, fifteen or twenty millions would, the Secretary tells us, at once bring up the greenbacks to a par with gold, and the drain ...would stop. How would five, ten, fifteen or twenty mill- ions of coin be drawn by means of notes, unless 94 RESUMPTION AND THE SILVER QUESTION.
the notes were at the par of coin ? And why- should the raising of the notes to par stop the drain ? Upon the principle stated by the Secre- tary, a drain of fifty millions might advance the notes to twenty-five per cent, premium ; a drain of a hundred to fifty per cent, premium ; a drain of two hundred might advance the value of the $140, - (X)0, 000 left outstanding so that they would com- mand at auction a greater sum than the present value of the whole.
What to read after Resumption And the Silver Question Embracing a Sketch of the Coinage And of Th?
You can find similar books in the "Read Also" column, or choose other free books by Henry Varnum Poor to read onlineMoreLess
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