Die Geldverfassung und das Notenbankwesen der Vereinigten Staaten

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G. Fischer, 1907 - Banks and banking - 213 pages

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Page 32 - ... and interpretations of the laws by virtue of which such 'Obligations have been contracted, it is hereby provided and declared, that the faith of the United States is solemnly pledged to the payment in coin or its equivalent of all the obligations of the United States not bearing interest, known as United States notes, and of all the interest- bearing obligations of the United States, except in cases where the law authorizing the issue of any...
Page 32 - And the United States also solemnly pledges its faith to make provision at the earliest practicable period for the redemption of the United States notes in coin.
Page 46 - 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 falls below one hundred millions of dollars...
Page 212 - Information respecting United States bonds, paper currency, coin, production of precious metals, etc., July 2, 1900.
Page 11 - ... the mint for the expense to which it is now subject, that of coining, merely for the purpose of putting the metal into a form better suited for exportation. It remains to be considered whether gold or silver is the most convenient currency for the United States. It has already been observed, that, prior to the year 1821, gold and silver generally bore the same relation in the market of the United States, which they did in the mint regulation. Silver sometimes commanded a premium for the India...
Page 11 - In an inquiry into the state of the currency, the consideration of the coinage is necessarily involved. The principles upon which the coinage of the United States has been established are substantially correct.
Page 133 - The deposits of the public money will enable you to afford increased facilities to commerce, and to extend your accommodation to individuals. And as the duties which are payable to the Government arise from the business and enterprise of the merchants engaged in foreign trade, it is but reasonable that they should be preferred...
Page 11 - ... trade. But, at no time since the general introduction of bank paper, has gold been found in general circulation. It may not be necessary here to inquire minutely into the causes which prevented the ratio of gold and silver in Europe from affecting the price of gold in the United States prior to 1820. The fact that gold did not circulate in the United States at a time when it commanded no premium, is sufficient to prove that other causes than an erroneous mint regulation have excluded, and may...
Page 209 - Representatives from the 1st to the 42d Congress inclusive, relating to banks, currency, public debt, tariff and public taxes . . . Prepared under the direction of Edward McPherson.
Page 11 - ... had risen from an increase of cost at the mines, which it is reasonable to conclude constitutes its real value, that increase of value would doubtless have been distinctly exhibited in England antecedent to 1797, and since, in general commerce, whether England had returned to specie payments or not. There were certainly no indications that gold was rated too low in our standard of 1 to 15 earlier than 1821, when the English demand commenced.

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