Speeches of Thomas Corwin : With a Sketch of His Life
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modifications and restrictions, they shall be per- mitted to live. With three or four exceptions, the charters of all the banks in Ohio will expire in two years from this time. They have, I believe, at this time a debt due them, which, in the aggregate, amounts to about ten millions of dollars. If their charters are not to be renewed, then it is not merely the dictate of prudence, but the command of neces- sity, that they should cease to make further issues, and by every proper means endeavor t...o collect their debts, and close finally their entire business. Should the great curtailment, almost ruinous, which has taken place in the circulation of the banks of this State, within the last eighteen months, be followed by the collection of the debts due the banks, while their capital remains unemployed, it must produce a state of things in this country, which has never been paralleled by any of those contingencies in trade, or unusual expansions and contractions in banking, which, in former times, we have had occasion to deplore.
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To quickly assess the difficulty of the text, read a short excerpt:
modifications and restrictions, they shall be per- mitted to live. With three or four exceptions, the charters of all the banks in Ohio will expire in two years from this time. They have, I believe, at this time a debt due them, which, in the aggregate, amounts to about ten millions of dollars. If their charters are not to be renewed, then it is not merely the dictate of prudence, but the command of neces- sity, that they should cease to make further issues, and by every proper means endeavor t...o collect their debts, and close finally their entire business. Should the great curtailment, almost ruinous, which has taken place in the circulation of the banks of this State, within the last eighteen months, be followed by the collection of the debts due the banks, while their capital remains unemployed, it must produce a state of things in this country, which has never been paralleled by any of those contingencies in trade, or unusual expansions and contractions in banking, which, in former times, we have had occasion to deplore.
What to read after Speeches of Thomas Corwin : With a Sketch of His Life?
You can find similar books in the "Read Also" column, or choose other free books by Corwin, Thomas, 1794-1865 to read onlineMoreLess
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