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Congressional Currency: An Outline of the Federal Money System (Classic Reprint)
Armistead Churchill Gordon
No preview available - 2017
American amount association authority balances bill bonds bullion cent certificates circulation cities clearing-house cloth coin coinage Committee Congress congressional Constitution continued Court created currency debt demand denominations deposit directed duties effect enactment established existence fact February Federal five further gold and silver gold reserve government's green greenbacks hand History House Independent Treasury interest issued January July known legal tender legal-tender legislation less limited loan March matter means measure ment millions Money in Politics national bank national bank notes Octavo officer operation opinion original paid party passage passed payment practically present President question received redeemed redemption reissued rency repeal Report Representatives result Resumption retired scheme Secretary Senate Sherman silver certificates silver dollars specie standard statute Sub-Treasury subsequent Theory tion Treasury notes United States notes Upton York
Page 201 - Every National banking association, State bank, or State banking association, shall pay a tax of ten per centum on the aliiount of notes of any person, State bank, or State banking association used for circulation, and paid out by them...
Page 187 - And it is hereby further declared that the efforts of the Government should be steadily directed to the establishment of such a safe system of bimetallism as will maintain at all times the equal power of every dollar coined or issued by the United States, in the markets and in the payment of debts.
Page 187 - And It Is hereby declared to be the policy of the United States to continue the use of both gold and silver as standard money, and to coin both gold and silver into money of equal Intrinsic and exchangeable value...
Page 202 - Having thus, in the exercise of undisputed constitutional powers, undertaken to provide a currency for the whole country, it cannot be questioned that Congress may constitutionally secure the benefit of it to the people by appropriate legislation.
Page 199 - It appears to us to follow, as a logical and necessary consequence, that Congress has the power to issue the obligations of the United States in such form, and to impress upon them such qualities as currency for the purchase of merchandise and the payment of debts, as accord with the usage of Sovereign governments.
Page 112 - It being the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.
Page 199 - A constitution, establishing a frame of government, declaring fundamental principles, and creating a national sovereignty, and intended to endure for ages and to be adapted to the various crises of human affairs, is not to be interpreted with the strictness of a private contract.
Page 125 - July 14, 1890, are legal tender for all debts, public and private, except where otherwise expressly stipulated in the contract. United States notes are legal tender for all debts, public and private, except duties on imports and interest on the public debt.
Page 58 - The place where its operations of discount and deposit are to be carried on, designating the State, Territory, or district, and the particular county and city, town, or village.
Page 162 - ... shall be received at par in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States, except for duties on imports; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.