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adopted allowed amount authorized bank notes became bills bonds Boston branch called capital caused cent charter checks circulating notes circulation clearing coin coinage colonial Congress considered continued contract currency debts demand deposits depreciation directors discount dollar early effect England equal established exchange existing fact failed favor five France fund give gold hand History House important increased interest issue Italy kind latter legal tender Legislature less loans means ment metal millions national banks necessary needs opinion paid party passed payment persons political present President proposed question ratio reason receive redeem result says Secretary Senate shillings silver specie standard taken things tion trade Treasury United vote whole worth York
Page 280 - 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 437 - But the Comptroller may withhold from an association his certificate authorizing the commencement of business whenever he has reason to suppose that the shareholders have formed the same for any other than the legitimate objects contemplated by this Title.
Page 133 - We have suffered more from this cause," he says, " than from every other cause of calamity: it has killed more men, pervaded and corrupted the choicest interests of our country more, and done more injustice than even the arms and artifices of our enemies...
Page 204 - Provided, That the Secretary of the Treasury shall suspend the issue of such gold certificates whenever the amount of gold coin and gold bullion in the Treasury reserved for the redemption of United States notes...
Page 273 - ... nation, but to adjust and discharge the balance of exchanges between different nations. It must be something which has a value abroad as well as at home, by which foreign as well as domestic debts can be satisfied. The precious metals alone answer these purposes. They alone, therefore, are money, and whatever else is to perform the functions of money must be their representative, and capable of being turned into them at will. So long as bank paper retains this quality it is a substitute for money-;...
Page 142 - Every day's experience proves more and more that the present mode of supplies is the most uncertain, expensive, and injurious that could be devised. It is impossible for us to form any calculations of what we are to expect, and, consequently, to concert any plans for future execution. No adequate provision of forage having been made, we are now obliged to subsist the horses of the army by force, which, among other evils, often gives rise to civil...
Page 136 - State, a few only excepted, and that the assembly is so well disposed to second your endeavors in bringing those murderers of our cause, the monopolizers, forestallers and engrossers, to condign punishment. It is much to be lamented that each State, long ere this, has not hunted them down as pests to society, and the greatest enemies we have to the happiness of America. I would to God, that some one of the most atrocious in each State was hung in gibbets upon a gallows five times as high as the one...
Page 266 - That, holding the opinion (as a majority of the committee do) that the constitution did not authorize Congress originally to grant the charter, it follows, as a necessary consequence of that opinion, that an extension of it, even under the restrictions contemplated by the stockholders, is equally repugnant to the constitution.