The Principles of Bond Investment
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In our eReader you can find the full English version of the book. Read The Principles of Bond Investment 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 Principles of Bond Investment
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It is true that we have a right to believe that never again will counties of the United States be brought to face a combination of circumstances so un- favorable to civil credit as those of the forties and seventies; and we have the satisfaction of knowing that at the costly tutelage of experience, the people of this country, as a whole, have learned th e simple financial lesson th at it is cheaper to pay a debt than to di sown it. But still, we have to face the fact that many munici- palities ...have outstanding perfectly valid debts, obligations in ethics as well as in law, which they can pay, and won't pay, and intend never to pay. The most flagrant instances are usually in rural counties, for the reasons we shall set forth.
497. The Extent and Cause of County Repudiation. During the Beconstruction Period, before the vogue of reclamation and special assessment districts, and other newfangled devices for debt-making, the political unit that suffered most from war and the expansion of credit, was the county, — especially the rural county.
What to read after The Principles of Bond Investment?
You can find similar books in the "Read Also" column, or choose other free books by Lawrence Chamberlain to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is true that we have a right to believe that never again will counties of the United States be brought to face a combination of circumstances so un- favorable to civil credit as those of the forties and seventies; and we have the satisfaction of knowing that at the costly tutelage of experience, the people of this country, as a whole, have learned th e simple financial lesson th at it is cheaper to pay a debt than to di sown it. But still, we have to face the fact that many munici- palities ...have outstanding perfectly valid debts, obligations in ethics as well as in law, which they can pay, and won't pay, and intend never to pay. The most flagrant instances are usually in rural counties, for the reasons we shall set forth.
497. The Extent and Cause of County Repudiation. During the Beconstruction Period, before the vogue of reclamation and special assessment districts, and other newfangled devices for debt-making, the political unit that suffered most from war and the expansion of credit, was the county, — especially the rural county.
What to read after The Principles of Bond Investment?
You can find similar books in the "Read Also" column, or choose other free books by Lawrence Chamberlain to read onlineMoreLess
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