Speech of Mr Rives of Virginia in Support of the Bill Introduced By Him Desig
Speech of Mr Rives of Virginia in Support of the Bill Introduced By Him Desig
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In our eReader you can find the full English version of the book. Read Speech of Mr Rives of Virginia in Support of the Bill Introduced By Him Desig Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Speech of Mr Rives of Virginia in Support of the Bill Introduced By Him Desig
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'But, for travelling, there could be no medi- um of more uniform and general credit than the gold coins, which in the case supposed, could always be had without difficulty, while they would, at the same time, be perfectly portable and convenient. As to distant re- mittances, they are hardly ever made in money of any sort, but are effected through drafts, and bills of exchange ; and when the local currencies, within their respective spheres, shall be raised to par with specie, the rates of excha...nge, with the advantages of so portable a currency as gold to adjust balances between the States, would be next to nothing certainly as cheap as it has ever been under the regime of a National Bank.
Among the most important advantages of such a constitution of the currency as is contemplated by this bill, are the substantial securities it would afford against the peculiar dangers and evils of the banking sys- tem. Those evils are a tendency to over-issues of paper. Fluctuations in the quantity of currency and in the value of property as affected by them, and the liability to a suspension of specie payments.
What to read after Speech of Mr Rives of Virginia in Support of the Bill Introduced By Him Desig?
You can find similar books in the "Read Also" column, or choose other free books by William C William Cabell Rives to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
'But, for travelling, there could be no medi- um of more uniform and general credit than the gold coins, which in the case supposed, could always be had without difficulty, while they would, at the same time, be perfectly portable and convenient. As to distant re- mittances, they are hardly ever made in money of any sort, but are effected through drafts, and bills of exchange ; and when the local currencies, within their respective spheres, shall be raised to par with specie, the rates of excha...nge, with the advantages of so portable a currency as gold to adjust balances between the States, would be next to nothing certainly as cheap as it has ever been under the regime of a National Bank.
Among the most important advantages of such a constitution of the currency as is contemplated by this bill, are the substantial securities it would afford against the peculiar dangers and evils of the banking sys- tem. Those evils are a tendency to over-issues of paper. Fluctuations in the quantity of currency and in the value of property as affected by them, and the liability to a suspension of specie payments.
What to read after Speech of Mr Rives of Virginia in Support of the Bill Introduced By Him Desig?
You can find similar books in the "Read Also" column, or choose other free books by William C William Cabell Rives to read onlineMoreLess
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