History of money in the British Empire and the United States

Longmans, Green and Company, 1911 - 356 Seiten

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Seite 273 - Both the constitutionality and the expediency of the law creating this Bank are well questioned by a large portion of our fellow-citizens ; and it must be admitted by all, that it has failed in the great end of establishing a uniform and sound currency.
Seite 74 - ... bills at the like or higher interest. " Much about the same time, the goldsmiths (or new-fashioned bankers) began to receive the rents of gentlemen's estates remitted to town, and to allow them and others who put cash into their hands some interest for it, if it remained but a single month in their hands, or even a lesser time.
Seite 150 - ... any body politic or corporate whatsoever created or to be created, or for any other persons whatsoever united or to be united in covenants or partnership exceeding the number of six persons in that part of Great Britain called England, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand or at any less time than six months from the borrowing thereof...
Seite 323 - An Act to define and fix the standard of value, to maintain the parity of all forms of money issued or coined by the United States, to refund the public debt, and for other purposes...
Seite 251 - The loss which America has sustained since the peace from the pestilent effects of paper money on the necessary confidence between man and man, on the necessary confidence in the public councils, on the industry and morals of the people, and on the character of republican government constitutes an enormous debt against the States chargeable with this unadvised measure which must long remain unsatisfied, or rather an accumulation of guilt which can be expiated no otherwise than by a voluntary sacrifice...
Seite 127 - That it is the opinion of this committee that the promissory notes of the Bank of England have hitherto been, and are at this time, held in public estimation to be equivalent to the legal coin of the realm, and generally accepted as such in all pecuniary transactions to which such coin is lawfully applicable.
Seite 242 - This currency as we manage it is a wonderful machine. It performs its office when we issue it, it pays and clothes troops, and provides victuals and ammunition, and when we are obliged to issue a quantity excessive, it pays itself off by depreciation.
Seite 84 - as several considerable and advantageous trades cannot be conveniently driven and carried on without the species of money or bullion, and that it is found by experience that they are carried in greatest abundance (as to a common market] to such places as give free liberty for exporting the same...
Seite 253 - The United States in Congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective States...
Seite 231 - Upon the considera^' tion of the great decay of trade, obstructions to manufactures and commerce in this Country, and multiplicity of debts and suits thereupon, principally occasioned by the present scarceity of coyne.

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