The National Debt Taxation Currency And Banking System of the United States
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In our eReader you can find the full English version of the book. Read The National Debt Taxation Currency And Banking System of the United States 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 The National Debt Taxation Currency And Banking System of the United States
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The Associa- tion have no such fears, as the demand for money is neces- sarily limited by the ability of employing it profitably, the supply of it may be left to adjust itself to the require- ments of trade. " In Mr. Chase's Report, December 10th, 1863, he defends this unlimited deposit system in these words: " Such an arrangement, the Secretary inclines to think, would operate beneficially by increasing the amount of currency when unusual stringency shall require increase, and reducing its amo...unt when returning ease shall allow reduction. " The deceptive character of these theories has been so often demonstrated, without convincing their advocates, that we shall owe our escape from their full application by Congress, at the present juncture, most probably to that great illustra- tion of their folly, which is now being enacted in the insur. Surgent States, where seven hundred million of dollars of 22 currency, that was convertible into eight per cent, bonds, has sunk so low that, at last accounts from some of the cities yet held by the rebel chiefs, one dollar in real money would buy twenty dollars of it!
What to read after The National Debt Taxation Currency And Banking System of the United States?
You can find similar books in the "Read Also" column, or choose other free books by James Gallatin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The Associa- tion have no such fears, as the demand for money is neces- sarily limited by the ability of employing it profitably, the supply of it may be left to adjust itself to the require- ments of trade. " In Mr. Chase's Report, December 10th, 1863, he defends this unlimited deposit system in these words: " Such an arrangement, the Secretary inclines to think, would operate beneficially by increasing the amount of currency when unusual stringency shall require increase, and reducing its amo...unt when returning ease shall allow reduction. " The deceptive character of these theories has been so often demonstrated, without convincing their advocates, that we shall owe our escape from their full application by Congress, at the present juncture, most probably to that great illustra- tion of their folly, which is now being enacted in the insur. Surgent States, where seven hundred million of dollars of 22 currency, that was convertible into eight per cent, bonds, has sunk so low that, at last accounts from some of the cities yet held by the rebel chiefs, one dollar in real money would buy twenty dollars of it!
What to read after The National Debt Taxation Currency And Banking System of the United States?
You can find similar books in the "Read Also" column, or choose other free books by James Gallatin to read onlineMoreLess
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