Money and Its Laws: Embracing a History of Monetary Theories, and a History of the Currencies of the United States |
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Page viii
... bills . 13 13 13 13 Based upon or symbolize merchandise , and retired by its use The holders of bills entitled to the specific thing drawn against Bills not adapted to serve as local currencies Such currencies required to be of every ...
... bills . 13 13 13 13 Based upon or symbolize merchandise , and retired by its use The holders of bills entitled to the specific thing drawn against Bills not adapted to serve as local currencies Such currencies required to be of every ...
Page ix
... bills of exchange , only instruments arising in production and distribution . . Distinction between capitalists and ... Bills proper to be discounted . Effect of discounting accommodation bills Inflation and contraction which result ...
... bills of exchange , only instruments arising in production and distribution . . Distinction between capitalists and ... Bills proper to be discounted . Effect of discounting accommodation bills Inflation and contraction which result ...
Page xviii
... bills representing real transactions , denied . Not the excess alone , but all the issues of the Bank speedily return for redemption . The excess acts upon the exchanges only through its effects Mode in which it does act upon them So ...
... bills representing real transactions , denied . Not the excess alone , but all the issues of the Bank speedily return for redemption . The excess acts upon the exchanges only through its effects Mode in which it does act upon them So ...
Page xxi
... bills , but upon government securities Discount of bills left to Banks and bankers 254 254 Rule of the Bank to hold coin and bullion equalling in amount one- third its liabilities 255 . The currency then even or full 255 Starting with ...
... bills , but upon government securities Discount of bills left to Banks and bankers 254 254 Rule of the Bank to hold coin and bullion equalling in amount one- third its liabilities 255 . The currency then even or full 255 Starting with ...
Page xxiii
... bills 299 No considerable amount of reserves needed by the former 299 To be held by the department whose issues have no extraordinary support No immediate effect produced by the Act 299 300 Rise and progress of the railways of the ...
... bills 299 No considerable amount of reserves needed by the former 299 To be held by the department whose issues have no extraordinary support No immediate effect produced by the Act 299 300 Rise and progress of the railways of the ...
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Common terms and phrases
accommodation bills Adam Smith amount of coin Aristotle assumed balance of trade Bank of England bank-notes bankers bills given borrowed bullion capital cent circulation Committee commodities consequently consumption contraction convertible corresponding amount cost country Banks debt demand deposits depreciated discharge discount distribution Economists effect equal excess exchange exportation foreign gold and silver greater holders Hume immediately increase industry issue issuers kind labor latter less liabilities loans Lord Overstone loss means measure medium ment merchandise merchants nature necessary never notes and credits operations paid paper currency paper money parties payable payment Political Economy possessed precious metals principle produce profit proper purchase quantity ratio reason received reduced rency represent reserves revenue rule says securities seigniorage Smith society specie supply supposed symbolic currency thing tion trade transactions usury value of money Wealth of Nations whole wholly
Popular passages
Page 465 - That every power vested in a government is in its nature sovereign, and includes, by force of the term, a right to employ all the means requisite and fairly applicable to the attainment of the ends of such power, and which are not precluded by restrictions and exceptions specified in the Constitution, or not immoral, or not contrary to the essential ends of political society.
Page 2 - Pison: that is it which compasseth the whole land of Havilah, where there is gold; and the gold of that land is good: there is bdellium and the onyx stone.
Page 505 - The authority of the Supreme Court must not, therefore, be permitted to control the Congress or the Executive when acting in their legislative capacities, but to have only such influence as the force of their reasoning may deserve.
Page 143 - Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury: unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury...
Page 505 - Each public officer, who takes an oath to support the constitution, swears that he will support it as he understands it, and not as it is understood by others. It is as much the duty of the house of representatives, of the senate, and of the President, to decide upon the constitutionality of any bill or resolution which may be presented to them for passage or approval, as it is of the supreme judges, when it may be brought before them for judicial decision.
Page 472 - Resolved, that the several States composing the United States of America, are not united on the principle of unlimited submission to their general government; but that by compact under the style and title of a Constitution for the United States...
Page 143 - Unto a stranger thou mayest lend upon usury ; but unto thy brother thou shalt not lend upon usury : that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it.
Page 473 - That the government created by this compact was not made the exclusive or final judge of the extent of the powers delegated to itself; since that would have made its discretion, and not the Constitution, the measure of its powers; but that, as in all other cases of compact among parties having no common judge, each party has an equal right to judge for itself, as well of infractions, as of the mode and measure of redress.
Page 488 - 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 510 - ... few/ and to govern by corruption or force, are aware of its^ power, and prepared to employ it. Your banks now furnish your only circulating medium, and money is plenty or scarce, according to the quantity of notes issued by them. While they have capitals not greatly disproportioned to each other,, they are competitors in business, and no one of them can exercise dominion over the rest ; and although, in the present state of the currency, these banks may and do operate injuriously upon the habits...