Comentarios de la gente - Escribir un comentario
No encontramos ningún comentario en los lugares habituales.
Otras ediciones - Ver todas
allowed American amount annual bank notes base become bonds capital cause cent CHAPTER circulation classes coin commerce condition Congress Constitution contraction debts demand depreciation effect England equivalent Europe exchange existing exports fact five fixed follows foreign France give gold and silver Government greater greenback hand hundred important increase inflated interest intrinsic irredeemable issued Italy land legal tender less limited loss mankind material measure ment method millions of dollars national banks Nature necessary necessity needs never notes operations paid paper currency paper money party pass payment period precious metals present principle produce propose prosperity quantity question reason received redeemable regulate relations result society specie substance things tion trade true United United States Treasurer Virginia volume worth
Página 46 - ... some time is required before the money circulates through the whole state, and makes its effect be felt on all ranks of people. At first, no alteration is perceived; by degrees the price rises, first of one commodity, then of another; till the whole at last reaches a just proportion with the new quantity of specie which is in the kingdom.
Página 153 - Nothing could be purchased without a dispute. Over every counter there was wrangling from morning to night. The workman and his employer had a quarrel as regularly as the Saturday came round. On a fair day or a market day the clamors, the reproaches, the taunts, the curses, were incessant ; and it was well if no booth was overturned and no head broken...
Página 149 - The very man of all others who has the deepest interest in a sound currency, and who suffers most by mischievous legislation in money matters, is the man who earns his daily bread by his daily toil.
Página 150 - A disordered currency is one of the greatest political evils. It undermines the virtues necessary for the support of the social system, and encourages propensities destructive of its happiness. It wars against industry, frugality, and economy, and it fosters the evil spirits of extravagance and speculation.
Página 152 - Yet it may well be doubted whether all the misery which had been inflicted on the English nation in a quarter of a century by bad Kings, bad Ministers, bad Parliaments, and bad Judges, was equal to the misery caused in a single year by bad crowns and bad shillings.
Página 152 - The evil was felt daily and hourly in almost every place and by almost every class, in the dairy and on the threshing floor, by the anvil and by the loom, on the billows of the ocean and in the depths of the mine. Nothing could be purchased without a dispute. Over every counter there was wrangling from morning to night. The workman and his employer had a quarrel as regularly as the Saturday came round.
Página 142 - ... ineffectual to its purposes, but in every instance increased the evils it was designed to remedy, and destroyed the benefits it was intended to promote. At best its utmost effect was like that of water sprinkled on a blacksmith's forge, which indeed deadens the flame for a moment, but never fails to increase the heat and force of the internal fire. Many thousand families of full and easy fortune were ruined by these fatal measures, and lie in ruins to this day, without the least benefit to the...
Página 177 - ... no State shall coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts.
Página 141 - This ruinous principle was continued in practice for five successive years, and appeared in. all shapes and forms, ie in tender acts, in limitations of prices, in awful and threatening declarations, in penal laws with dreadful and ruinous punishments, and in every other way that could be devised, and all executed with a relentless severity, by the highest authorities then in being, viz., by Congress, by assemblies and conventions of the States, by committees of inspection (whose powers in those days...
Página 152 - The evil proceeded with constantly accelerating velocity. At length in the autumn of 1695 it could hardly be said that the country possessed, for practical purposes, any measure of the value of commodities. It was a mere chance whether what was called a shilling was really tenpence, sixpence, or a groat.