The Silver Coinage Why is It Depreciated
The Silver Coinage Why is It Depreciated
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In our eReader you can find the full English version of the book. Read The Silver Coinage Why is It Depreciated 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 Silver Coinage Why is It Depreciated
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" But first let us note that the fixing of this standard does not in the slightest degree affect the obligations of the United States incurred years ago, if they were incurred in a measure of value different from the present gold dollar. Whatever we have contracted to pay, we must pay. So far as the foreign creditor is concerned, our coins are no more to him than so much bullion. The moment coin leaves a country where it is current, its attributes as coin are lost. When we told our foreign cred...itor we would pay him so many " dol- lars, " per half year, interest, and in the fullness of time, so many "dollars" principal, we referred to some dollar then existing. If we have since pledged ourselves by stipulation with him to pay him in gold dollars of a certain weight and fineness, we must do it, if from no other motive, then from the lowest of all, self interest ; for anything we might gain would not compensate for the loss of credit repudiation would entail upon us if we want to borrow again.
What to read after The Silver Coinage Why is It Depreciated?
You can find similar books in the "Read Also" column, or choose other free books by E F Buttemer Edward French Buttemer Harston to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
" But first let us note that the fixing of this standard does not in the slightest degree affect the obligations of the United States incurred years ago, if they were incurred in a measure of value different from the present gold dollar. Whatever we have contracted to pay, we must pay. So far as the foreign creditor is concerned, our coins are no more to him than so much bullion. The moment coin leaves a country where it is current, its attributes as coin are lost. When we told our foreign cred...itor we would pay him so many " dol- lars, " per half year, interest, and in the fullness of time, so many "dollars" principal, we referred to some dollar then existing. If we have since pledged ourselves by stipulation with him to pay him in gold dollars of a certain weight and fineness, we must do it, if from no other motive, then from the lowest of all, self interest ; for anything we might gain would not compensate for the loss of credit repudiation would entail upon us if we want to borrow again.
What to read after The Silver Coinage Why is It Depreciated?
You can find similar books in the "Read Also" column, or choose other free books by E F Buttemer Edward French Buttemer Harston to read onlineMoreLess
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