The Money Question: A Handbook for the Times |
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Page iv
... specie payments . As the National Bank was not to be restored , and as the State Banks could be no longer used , the only alternative to the Government was to collect the revenues in metallic money to be held in its own strong box ...
... specie payments . As the National Bank was not to be restored , and as the State Banks could be no longer used , the only alternative to the Government was to collect the revenues in metallic money to be held in its own strong box ...
Page v
... specie payments by the banks which , in a most patriotic manner , had placed their means wholly at the disposal of the Government . As no return was to be made to the notes of banks , and as metallic money — then gold · be had , the ...
... specie payments by the banks which , in a most patriotic manner , had placed their means wholly at the disposal of the Government . As no return was to be made to the notes of banks , and as metallic money — then gold · be had , the ...
Page 6
... specie can be demanded , its own issues remaining in circulation . - The exchanges taking place in the United States afford a striking illustration , the best probably that could be produced , of the degree of the substitution of ...
... specie can be demanded , its own issues remaining in circulation . - The exchanges taking place in the United States afford a striking illustration , the best probably that could be produced , of the degree of the substitution of ...
Page 12
... specie payment . Resumption is not the taking in in coin of the liabilities of a bank , but that its issues should repre- sent merchandise having a value in gold equal to their nominal amount . The process of resumption on an extended ...
... specie payment . Resumption is not the taking in in coin of the liabilities of a bank , but that its issues should repre- sent merchandise having a value in gold equal to their nominal amount . The process of resumption on an extended ...
Page 13
... specie payments may be a matter of a few days only . The consumption of merchandise would go on as before , the liabilities on either side being discharged by mutual offset until they are wholly retired . A suspension of specie payments ...
... specie payments may be a matter of a few days only . The consumption of merchandise would go on as before , the liabilities on either side being discharged by mutual offset until they are wholly retired . A suspension of specie payments ...
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Common terms and phrases
amount bank notes Bank of England banks and bankers bi-metallism bills bills of exchange bonds bullion cent Clearing House coinage of silver commerce committee Congress consequently Constitution Continental currency created credit money debts declared demand deposits discharged distribution duties effect equal established excess foreign gold and silver gold dollar Government notes greater holders increased institution interest issuers issues of banks Jackson kind of money legal tender notes loans and discounts maintain matter means measure ment merchandise metallic money Mississippi Company National Bank National Government never nominal value notes and credits operations paid paper currency paper money party payable present production purchase purpose ratio received redemption reserves retirement revenues Secretary secured seigniorage Senate serve as money share capital silver coin silver dollar specie payments standard of value subsidiary coins suspension of specie symbolic money tion trade transactions Treasury United United States notes wholly
Popular passages
Page 124 - States provides that the Congress shall have power — To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures: To provide for the punishment of counterfeiting the securities and current coin of the United States.
Page 150 - 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, such equality to be secured through international agreement, or by such safeguards of legislation as will insure the maintenance of the parity in value of the coins of the two metals, and the equal power of every dollar at all times in the markets and in the payment of debts.
Page 56 - I can not assent. Mere precedent is a dangerous source of authority, and should not be regarded as deciding questions of constitutional power except where the acquiescence of the people and the States can be considered as well settled.
Page 78 - No political dreamer was ever wild enough to think of breaking down the lines which separate the states, and of compounding the American people into one common mass.
Page 121 - That any holder of the coin authorized by this act may deposit the same with the treasurer or any assistant treasurer of the United States...
Page 29 - 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...
Page 56 - If the opinion of the supreme court covered the whole ground of this act, it ought not to control the co-ordinate authorities of this government. The congress, the executive, and the court, must each for itself be guided by its own opinion of the constitution.
Page 193 - The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel, which it costs less both to erect and to maintain than the old one.
Page 79 - That the democratic party will faithfully abide by and uphold the principles laid down in the Kentucky and Virginia resolutions of 1798, and in the report of Mr. Madison to the Virginia Legislature in 1799 ; that it adopts those principles as constituting one of the main foundations of its political creed, and is resolved to carry them out in their obvious meaning and import.
Page 76 - That the federal government is one of limited powers, derived solely from the Constitution, and the grants of power shown therein ought to be strictly construed by all the departments and agents of the government ; and that it is inexpedient and dangerous to exercise doubtful constitutional powers.