Our money wars: the example and warning of American financeArena Publishing Company, 1894 - 319 pages |
Contents
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Common terms and phrases
Act of July Act of March American amount bank notes Bank of England Bank of France bank-notes bankers bill bondholders bonds brokers bullion bullionists capital cause certificates circulating medium Clearing-house coinage Congress contraction creditors debt Demand notes Democratic deposits depreciated discount Europe exchange fact favor February 25 five per cent foreign gold and silver gold-bugs Gould Government grains Greenbacks House indebtedness interest January John Sherman July 17 labor lawful money legal tender legal-tender notes loan March 17 ment metal millions months National banks paid panic paper money party passed premium President purchased railroad received redeem resumption says Secretary sell Senate Sherman silver coin silver dollar six per cent sold specie payments speculations suspended taxes three per cent tion trade dollar Treasury notes Tribune United United States notes Wall Street Warwick Martin York
Popular passages
Page 58 - 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.
Page 301 - Such certificates shall be receivable for customs, taxes, and all public dues, and when so received may be reissued...
Page 301 - ... as may be necessary to provide for the redemption of the Treasury notes herein provided for, and any gain or seigniorage arising from such coinage shall be accounted for and paid into the Treasury.
Page 59 - But, when the laws undertake to add to these natural and just advantages, artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer, and the potent more powerful, the humble members of society, the farmers, mechanics, and laborers, who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government There are no necessary evils in government.
Page 49 - But, for the interests of the Community at large, as well as for the purposes of the Treasury, it is essential that the Nation should possess a currency of equal value, credit and use, wherever it may circulate. The Constitution has entrusted Congress, exclusively, with the power of creating and regulating a currency of that description...
Page 59 - It is maintained by some that the bank is a means of executing the constitutional power "to coin money, and regulate the value thereof." Congress have established a Mint to coin money, and passed laws to regulate the value thereof. The money so coined, with its value so regulated, and such foreign coins as Congress may adopt, are the only currency known to the constitution. But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred...
Page 43 - Resolved, That the Committee of Ways and Means be directed to inquire into the expediency of authorizing the Secretary of the Treasury to issue notes convenient for circulation...
Page 301 - July, 1891, and after that time he shall coin of the silver bullion purchased under the provisions of this act as much as may be necessary to provide for the redemption of the Treasury notes herein provided for...
Page 145 - ... the faith of the United States is solemnly pledged to the payment in coin, or its equivalent, of all t he obligations of the United States...
Page 63 - He never stooped to the arena of partisan discussions, but in the consideration of important subjects, especially that of the removal of the public deposits from the Bank of the United States, he proved himself to be a statesman of high rank, and a most accomplished debater.