Speeches And Addresses of Hon J H Walker of Massachusetts Ten Years Member
Speeches And Addresses of Hon J H Walker of Massachusetts Ten Years Member
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To quickly assess the difficulty of the text, read a short excerpt:
Fairchild. No, sir; I think that is perfectly true.
The Chairman. Assuming that there will be a recurrence of the distress of 1803, is it possible in such a situation and under such con- ditions to avoid an endless chain, as long as we have any obligations we redeem in gold ?
Secretary Gage. No, sir. You may sometimes make a strong endless chain and sometimes a feeble one. As long as there is a dollar of obli- gation of the Government out, that dollar can be presented to tire Gov- ernment. If i...t is redeemed and paid out it can be presented again, and can be presented as many times as it is paid out. That can be done with only one dollar.
GOLD TAKEN OUT OF THE TREASURY IS LOST FOR USE IN REDEEM- ING PAPER MONEY.
The Chairman. Is it not a fact that gold taken out of the Treasury goes into the possession of forces antagonistic to the Treasury, and that gold taken from a bank is immediately returned to some other bank and is kept in the banking system, and the gold is not lessened in quantity?
What to read after Speeches And Addresses of Hon J H Walker of Massachusetts Ten Years Member?
You can find similar books in the "Read Also" column, or choose other free books by J H Joseph Henry Walker to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Fairchild. No, sir; I think that is perfectly true.
The Chairman. Assuming that there will be a recurrence of the distress of 1803, is it possible in such a situation and under such con- ditions to avoid an endless chain, as long as we have any obligations we redeem in gold ?
Secretary Gage. No, sir. You may sometimes make a strong endless chain and sometimes a feeble one. As long as there is a dollar of obli- gation of the Government out, that dollar can be presented to tire Gov- ernment. If i...t is redeemed and paid out it can be presented again, and can be presented as many times as it is paid out. That can be done with only one dollar.
GOLD TAKEN OUT OF THE TREASURY IS LOST FOR USE IN REDEEM- ING PAPER MONEY.
The Chairman. Is it not a fact that gold taken out of the Treasury goes into the possession of forces antagonistic to the Treasury, and that gold taken from a bank is immediately returned to some other bank and is kept in the banking system, and the gold is not lessened in quantity?
What to read after Speeches And Addresses of Hon J H Walker of Massachusetts Ten Years Member?
You can find similar books in the "Read Also" column, or choose other free books by J H Joseph Henry Walker to read onlineMoreLess
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