The Contraction of the Currency: An Argument ... Proving that the Circulating Medium of the Country Has Not Been Materially Diminished Since 1865 |
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... government are of a nature so liable to abuse , I may say so certain to be abused , that the wisdom of the government will be shown by never trusting itself with so seducing and dangerous a power . " - ALEXANDER HAMILTON - Report when ...
... government are of a nature so liable to abuse , I may say so certain to be abused , that the wisdom of the government will be shown by never trusting itself with so seducing and dangerous a power . " - ALEXANDER HAMILTON - Report when ...
Page 8
... Government was compelled to redeem them at maturity or sacrifice its honor and credit by failing to do so . It is equally absurd to attribute the panic to the redemption of these notes and bonds ; for these all being issued prior to ...
... Government was compelled to redeem them at maturity or sacrifice its honor and credit by failing to do so . It is equally absurd to attribute the panic to the redemption of these notes and bonds ; for these all being issued prior to ...
Page 10
... government , which bear interest , are not clothed with the legal tender attribute , run for terms of years , and chiefly exist only in large denominations , all parties agree in classing as " securities " or " bonds " and not as 66 ...
... government , which bear interest , are not clothed with the legal tender attribute , run for terms of years , and chiefly exist only in large denominations , all parties agree in classing as " securities " or " bonds " and not as 66 ...
Page 11
... Government officials ( nearly all of them pre- pared from ten to fifteen years ago , and before this controversy had begun ) -let it be noted that every reference is to an official publica- tion to be found in any large library ! -show ...
... Government officials ( nearly all of them pre- pared from ten to fifteen years ago , and before this controversy had begun ) -let it be noted that every reference is to an official publica- tion to be found in any large library ! -show ...
Page 14
... Government , bearing six per cent . interest , and of which the amount authorized and issued was $ 16,000,000 . This loan does not figure now in the public debt , and has , therefore , been paid in full since its maturity . These bonds ...
... Government , bearing six per cent . interest , and of which the amount authorized and issued was $ 16,000,000 . This loan does not figure now in the public debt , and has , therefore , been paid in full since its maturity . These bonds ...
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Common terms and phrases
act entitled act of Congress ACT OF JULY act of March ACT TO AUTHORIZE ACT TO PROVIDE aggregate April 30 Assistant Treasurers authorized the issue bearing interest bonds authorized centum per annum certificates of deposit certificates of indebtedness claimed compound interest notes contraction Demand Notes denominations dollar duties on imports entitled An act equal amount exceed exchange February 25 five per cent Five-Twenties fractional currency fund gold greenbacks hereby authorized HONEST MONEY LEAGUE interest-bearing legal tenders issue of United July 17 June standing June lawful money legal tender notes less than $50 National bank notes notes issued outstanding paid paper money payable semi-annually payment Postal Currency public dues purpose receive redeemable redemption rency revenue stamps second table Secretary SECTION seigniorage seven-thirties six per cent standing June 30 standing June standing Stat table of currency temporary loan certificates thereof tion Treasury is hereby United States notes
Popular passages
Page 42 - ... lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid.
Page 55 - An act to provide a National currency, secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof," approved June third, eighteen hundred and sixty-four.
Page 46 - ... dollars, at a rate of interest not exceeding five per centum per annum; and any amount so deposited may be withdrawn from deposit, at any time after ten days...
Page 44 - That the grants aforesaid are made upon condition that said company shall pay said bonds at maturity, and shall keep said railroad and telegraph line in repair and use. and shall at all times transmit dispatches over said telegraph line, and transport mails, troops, and munitions of war, supplies, and public stores upon said railroad for the Government, whenever required to do so by any department thereof, and that...
Page 21 - And said treasury notes may be made a legal tender to the same extent as United States notes, for their face value excluding interest...
Page 60 - ... revenues from time to time in the treasury not otherwise appropriated, and to issue, sell, and dispose of. at not less than par in coin, either of the descriptions of bonds of the United States described in the act of Congress approved July fourteenth, eighteen hundred and seventy, entitled 'An act to authorize the refunding of the national debt...
Page 19 - ... nor shall the total amount of United States notes, issued or to be issued, ever exceed $400,000,000, and such additional sum, not exceeding $50,000,000, as may be temporarily required for the redemption of temporary loan...
Page 61 - The coin deposited for or representing the certificates shall be retained in the Treasury for the payment of the same on demand. Said certificates shall be receivable for customs, taxes, and all public dues, and, when so received, may be reissued.
Page 45 - States, coupon or registered, as may by said holder be desired, bearing interest at the rate of six per centum per annum, payable semi-annually, and redeemable at the pleasure of the United States after five years, and payable twenty years from the date thereof.
Page 50 - And all stocks, bonds, and other securities of the United States, held by individuals, corporations or associations, within the United States, shall be exempt from taxation by or under State authority.