Money and Its Laws: Embracing a History of Monetary Theories, and a History of the Currencies of the United States

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H. V. and H. W. Poor, 1877 - 623 páginas
 

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Demands to be paid in coin 503
26
Banks discharge obligations arising between themselves by mutual offset
32
That a currency may be convertible the means therefor must be provided
39
Profit of Banks
40
Symbolic currencies measure the means of consumption of a people
47
Why governments cannot issue convertible currencies
55
Always a forced loan
57
Difference between his method and that of Aristotle
71
His proposition for lowering the standard
78
His assumptions opposed to the fact
85
His untrustworthiness shown by
95
Erroneous assumptions in reference to money
98
Invention of money impossible
103
Contradictions in which Smith involved himself
111
Money the highest form of finished work
115
Absurdity of such distinctions
121
Money material for the reason that it is always going into the arts
127
Advantages resulting from the use of the former
129
Cost of maintaining a currency in ratio to its amount
135
Disastrous influence of his teachings
141
Money the measure of value and money the instrument of commerce
149
Importance of an equilibrium of the precious metals the world over
156
The age of Protection the heroic one
160
The sneaking arts of underling tradesmen have made England what
166
Lectures on Political Economy
172
The value of money is in ratio to the rapidity of its circulation
180
No other association having more than six members to issue notes i
189
Advantages of a currency issued by them in reducing prices
190
The bullion of the Bank on the 21st of February 1797 reduced
196
Not the excess alone but all the issues of the Bank speedily return
202
Notes representing capital the same in character till they are taken in
208
The currency inflated and the remedy convertibility
209
WILLIAM HUSKISSON
216
The insignia of government cannot create values
223
His assumptions wholly opposed to the fact
229
The Bank resumes May 1 1821
235
Lord Liverpools plan adopted
241
Involved the subject in still greater obscurity and error
248
Its action corrected and neutralized by that of the jointstock Banks
254
The action of the Bank should prevent adverse exchanges
260
Its reserves to have reference to domestic as well as to foreign trade
269
Reflections Suggested by a Perusal of the Pamphlet of Mr J Horsley
274
Causes of the disasters of 1839
280
Summary of his argument
288
His argument a refinement upon Lord Overstones distinction
291
Its effect to create two Banks of issue
298
Committees of Parliament of 1848
308
Before the Committee of 1840
314
Epitomizes all the speculations and conclusions of the Economists 818
318
Scotch Economists and metaphysicians wanting in the reasoning faculty
327
Money when used as such always used as capital
333
Inconvertible currencies
341
Address of Congress to the people 454
383
Quoted for the purpose of illustrating the present condition of monetary
391
Mr Jevonss address proof of the extremity to which the old school
396
Price an illustration of what is taught as Political Economy
406
The source of all monetary theories
407
Unlike mensures of weight and extension money as the measure of value
410
His work only a restatement of Mill and McCulloch
415
A R PERRY
422
CURRENCY AND BANKING IN THE UNITED STATES
428
Further issues and increased decline
435
Depressed condition of the country
441
Absurdity of the illustration 178
443
Hucksters and forestallers
447
Attempts to prevent the circulation of coin
453
Amount of the public debt note
455
209
459
French loan
461
Their utter failure
464
Could derive no advantage from provisions designed to promote the general
471
Illustrations of his opinions upon the nature and powers of our government
477
Charter of the Bank expired March 4 1811 A101
483
General Jacksons first Annual Message declares the Bank unconstitutional
489
Report of the Committee upon the Bank
490
Great reduction which followed
496
Summary of the Report 602
502
The will or opinion of each department of government its rule
509
Amount of their capital and loans note 639
510
Rapid increase of State Banks 627
511
Reversal of the judgment of the nation
518
The delirium of extravagance which followed
522
Removal of deposits from the United States to State Banks
527
470
528
Purchases of public lands from 1829 to 1847 inclusive note 628
529
196
531
Enormous price paid for its charter
535
Appeal of the liolders of these bonds
540
In Ohio 517
549
Financial condition of the government
557
Success of their operations till he entered the field with his own notes
559
His object not money but political advancement 665
567
Résume of his argument 672
573
Mr Chases misstatement of bistory 682
582
Would circulate at par by bearing interest at a low rate
588
The note holders to be left to take care of themselves
591
The government notes to be demonetized as the condition of resumption 693
594
Incapacity of government officials to deal with the subject
598
392
604
The question of issuer the first to be decided
606
Interests of Banks always in harmony with those of the public
612
METHOD OF ResumPTION Amount OF COIN REQUIRED
617
5223
623
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Página 479 - That the government created by this compact was not made the exclusive or final judge of the extent of the powers delegated to itself; since that would have made its discretion, and not the Constitution, the measure of its powers; but that as in all other cases of compact among parties having no common Judge, each party has an equal right to judge for itself, as well of infractions as of the mode and measure of redress.
Página 511 - Each public officer who takes an oath to support the Constitution swears that he will support it as he understands it, and not as it is understood by others.
Página 13 - And Abraham hearkened unto Ephron; and Abraham weighed to Ephron the silver, which he had named in the audience of the sons of Heth, four hundred shekels of silver, current money with the merchant.
Página 471 - That every power vested in a government is in its nature sovereign, and includes, by force of the term, a right to employ all the means requisite and fairly applicable to the attainment of the ends of such power, and which are not precluded by restrictions and exceptions specified in the Constitution, or not immoral, or not contrary to the essential ends of political society.
Página 494 - Waiving the question of the constitutional authority of the Legislature to establish an incorporated bank as being precluded in my judgment by repeated recognitions under varied circumstances of the validity of such an institution in acts of the legislative, executive, and judicial branches of the Government, accompanied by indications, in different modes, of a concurrence of the general will of the nation...
Página 468 - I do not conceive we can exist long as a nation without having lodged somewhere a power, which will pervade the whole Union in as energetic a manner as the authority of the State governments extends over the several States.
Página 4 - And a river went out of Eden to water the garden, and from thence it was parted and became into four heads.
Página 468 - If you tell the legislatures, they have violated the treaty of peace, and invaded the prerogatives of the confederacy, they will laugh in your face.
Página 478 - Resolved, that the several States composing the United States of America, are not united on the principle of unlimited submission to their general government; but that by compact under the style and title of a Constitution for the United States...
Página 279 - The history of what we are in the habit of calling the " state of trade " is an instructive lesson. We find it subject to various conditions which are periodically returning ; it revolves apparently in an established cycle. First we find it in a state of quiescence, — next improvement, — growing confidence, — prosperity, — excitement, — overtrading, — convulsion, — pressure, — stagnation, — distress, — ending again in quiescence.

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