Selected Speeches And Reports On Finance And Taxation, From 1859 to 1878
Selected Speeches And Reports On Finance And Taxation, From 1859 to 1878
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There are times when he must have a large currency reserve. There are other periods of the year when he can run it down to three millions. I have known the currency reserve at one time to run down to two millions. In my judgment it is hardly ever safe to have a currency reserve in the Treasuir of less than fifteen millions. It is better to have it. The Secretary of the Treasury would naturally have it, and on an average the reserve has been more than fifteen millions. On the 12th of September, ...just before the panic, the reserve was about twelve or fifteen millions ; the precise amount I do now know, but it was over twelve millions certainly — fourteen millions my friend from New York suggests. To-day it is ten millions, and sometimes it goes down to three millions.
The very mnguage of this section is the lai^uage of the House bill, the language proposed by the Senator from Rwa the other day, and there is not a word about the $44,000,000 reserve in it. This biU practically abolishes the idea of such a reserve ; it fixes the maximum of United States notes at $382,000,000, and the Secretary of the Trea- sury will necessarily keep enough of that $382,000,000 to meet his cur- rent payments.
What to read after Selected Speeches And Reports On Finance And Taxation, From 1859 to 1878?
You can find similar books in the "Read Also" column, or choose other free books by United States. Dept. of the Treasury to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
There are times when he must have a large currency reserve. There are other periods of the year when he can run it down to three millions. I have known the currency reserve at one time to run down to two millions. In my judgment it is hardly ever safe to have a currency reserve in the Treasuir of less than fifteen millions. It is better to have it. The Secretary of the Treasury would naturally have it, and on an average the reserve has been more than fifteen millions. On the 12th of September, ...just before the panic, the reserve was about twelve or fifteen millions ; the precise amount I do now know, but it was over twelve millions certainly — fourteen millions my friend from New York suggests. To-day it is ten millions, and sometimes it goes down to three millions.
The very mnguage of this section is the lai^uage of the House bill, the language proposed by the Senator from Rwa the other day, and there is not a word about the $44,000,000 reserve in it. This biU practically abolishes the idea of such a reserve ; it fixes the maximum of United States notes at $382,000,000, and the Secretary of the Trea- sury will necessarily keep enough of that $382,000,000 to meet his cur- rent payments.
What to read after Selected Speeches And Reports On Finance And Taxation, From 1859 to 1878?
You can find similar books in the "Read Also" column, or choose other free books by United States. Dept. of the Treasury to read onlineMoreLess
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