Speech of Mr. Calhoun, of South Carolina, On the Sub-Treasury Bill: Delivered in the Senate ... February 15, 1838
Speech of Mr. Calhoun, of South Carolina, On the Sub-Treasury Bill: Delivered in the Senate ... February 15, 1838
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Totals.
Ist January, 1824, 3l8t July, 1825, - 31,108,253 96 29,489,174 34 81,619,079 62 2,323,830 19 3,622,882 69 81,299,052 50 33,432,084 15 33,112,057 OS 8 320,027 12 Here is an actual di'minution of loans in the Atlantic cities of 1,619,079 62, and an actual increase in the remittances of bills from the south and west to susUin them, of 1,300,000; and, finally, an aggregate reduction. of the loans [ Rep* No. 460. ] 336 of th^ whole establishment of $ 3,000,000. As all this reduction took pla...ce three months before the pressure, it seems scarcely reasonable to ascribe the pressure to an alleged increase. , 13. Suppose the speculations and reactions of 1825-26, to have originat* ed in England, should we not have been less affected by it, had not the cir- culation and funded debt of the bank both been suddenly doubled?
It is difficult to discover the least connexion between the two events.
This reaction, as it is called, took place here in October, 1825. In May^ 1824, eighteen months before, the bank took the five million loan, and, ia January and March, 1S25, another loan of live millions; but its genernl bu- siness was actually diminished, and its circulation* so far from being sudden- ly' doubled, underwent the most gradual and gentle increase imaginable.
What to read after Speech of Mr. Calhoun, of South Carolina, On the Sub-Treasury Bill: Delivered in the Senate ... February 15, 1838?
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To quickly assess the difficulty of the text, read a short excerpt:
Totals.
Ist January, 1824, 3l8t July, 1825, - 31,108,253 96 29,489,174 34 81,619,079 62 2,323,830 19 3,622,882 69 81,299,052 50 33,432,084 15 33,112,057 OS 8 320,027 12 Here is an actual di'minution of loans in the Atlantic cities of 1,619,079 62, and an actual increase in the remittances of bills from the south and west to susUin them, of 1,300,000; and, finally, an aggregate reduction. of the loans [ Rep* No. 460. ] 336 of th^ whole establishment of $ 3,000,000. As all this reduction took pla...ce three months before the pressure, it seems scarcely reasonable to ascribe the pressure to an alleged increase. , 13. Suppose the speculations and reactions of 1825-26, to have originat* ed in England, should we not have been less affected by it, had not the cir- culation and funded debt of the bank both been suddenly doubled?
It is difficult to discover the least connexion between the two events.
This reaction, as it is called, took place here in October, 1825. In May^ 1824, eighteen months before, the bank took the five million loan, and, ia January and March, 1S25, another loan of live millions; but its genernl bu- siness was actually diminished, and its circulation* so far from being sudden- ly' doubled, underwent the most gradual and gentle increase imaginable.
What to read after Speech of Mr. Calhoun, of South Carolina, On the Sub-Treasury Bill: Delivered in the Senate ... February 15, 1838?
You can find similar books in the "Read Also" column, or choose other free books by Calhoun John Caldwell to read onlineMoreLess
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