Whither are We Drifting as a Nation? |
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Common terms and phrases
American amount bank of England bankers bill bondholder bullion bullionists bushel capital capitalists cent circulation citizens coin committee commodities Congress constitution contraction cost debt demand depreciated despotism disaster elected Europe exception clause fact farm farmer fifty full legal tender gold and silver gold bugs greenback hands honest Horace Greeley hundred dollars increase Ingersoll interest intrinsic value invested issue money John Sherman Jones labor land legislation liberty loan manufacturing Massachusetts ment monetary system money power national bank currency paid paper money patriotism payable payment people's price of gold produce prosperity purchase quoted railroad receive redeem rency Republican party Rhode Island Robert Ingersoll Senate Shylock specie basis standard of value Strait Supreme Court taxes testimony Thaddeus Stevens thousand dollars tion trade Tribune twenty United volume of money vote voters wealth wheat words worth York York Tribune
Popular passages
Page 422 - We had discussed this point in our Junto, where I was on the side of an addition, being persuaded that the first small sum struck in 1723 had done much good by increasing the trade, employment, and number of inhabitants in the province, since I now saw all the old houses inhabited and many new ones building...
Page 96 - Labor is prior to and independent of capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.
Page 384 - But where the law is not prohibited, and is really calculated to effect any of the objects intrusted to the government, to undertake here to inquire into the degree of its necessity, would be to pass the line which circumscribes the judicial department, and to tread on legislative ground.
Page 19 - It is not needed nor fitting here that a general argument should be made in favor of popular institutions, but there is one point with its connections not so hackneyed as most others, to which I ask a brief attention. It is the effort to place capital on an equal footing with, if not above, labor in the structure of government.
Page 291 - In view of the great actual contraction that has taken place in the currency, and the comparative contraction continuously going on, due to the increase of population, increase of manufactories, and all the industries, I do not believe there is too much of it now for the dullest period of the year.
Page 229 - But the obligation of a contract to pay money is to pay that which the law shall recognize as money when the payment is to be made.
Page 524 - A well regulated paper currency is so great an improvement in commerce, that I should greatly regret if prejudice should induce us to return to a system of less utility. The introduction of the precious metals for the purposes of money may with truth be considered as one of the most important steps towards the improvement of commerce and the arts of civilized life ; but it is no less true, that, with the advancement of knowledge and science, we discover that it would be another improvement to banish...
Page 533 - Macculloch that, putting out of sight individual cases of hardship, if such exist, a fall in the value of gold must have, and, as I should say, has already a most powerfully beneficial effect. It loosens the country, as nothing else could, from its old bonds of debt and habit. It throws increased rewards before all who are making and acquiring wealth, somewhat at the expense of those who are enjoying acquired wealth. It excites the active and skilful classes of the community to new exertions...
Page 401 - On the other Hand, Those who are Lovers of Trade, and delight to see Manufactures encouraged, will be for having a large Addition to our Currency: For they very well know, that People will have little Heart to advance Money in Trade, when what they can get is scarce [15] sufficient to purchase Necessaries, and supply their Families with Provision.
Page 532 - Accordingly we find that in every kingdom into which money begins to flow in greater abundance than formerly, everything takes a new face; labour and industry gain life; the merchant becomes more enterprising, the manufacturer more diligent and skilful, and even the farmer follows his plough with greater alacrity and attention.