Money and Its Laws: Embracing a History of Monetary Theories, and a History of the Currencies of the United States

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H. V. and H. W. Poor, 1877 - Banks and banking - 623 pages
 

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Contents

The value of money is in ratio to the rapidity of its circulation
21
Their use as money double barter
24
The inconvenience and distress
27
Cumulative symbols representing the same merchandise
30
Cannot like bills of exchange be issued by producers
31
Necessity of a higher law than morality
35
Retired in the payment of the bills in the discount of which they are issued
37
Of the discount of bills given in the purchase of securities
38
Banks discharge obligations arising between themselves by mutual offset
43
Wide difference between currencies issued by governments and by Banks
44
interest on their amount
48
Why governments cannot issue convertible currencies
50
The value of all currencies depends upon their quality not quantity
56
A currency of government notes never issued for the purpose of facilitating
57
Wholly dependent upon the credit of the issuer
58
Methods followed in the investigation of its laws those of the Schoolmen
61
Childishness and absurdity of his illustrations
66
Becomes an authority with the Church
70
JOHN LOCKE
74
JOHN
81
Goes to France and founds a Bank based upon coin
88
Does not displace a corresponding amount of coin
90
Does not displace a corresponding amount of coin
98
Adopts the deductive method
100
Labor as an abstract notion the real measure of values coin the appar
107
The universal preference for the precious metals renders them money
113
Money material for the reason that it is always going into the arts
116
Advantages resulting from the use of the former
129
Advances to be made to merchants only as the representatives of mang
135
Such promptness for a time rather a proof of excessive issues
137
Sketch of the history of usury note
143
Doney the measure of value and money the instrument of commerce
148
A person rich in proportion to the amount he holds
150
Doctrines of Smith and the Economists in reference to Balance of Trade
154
Importance of an equilibrium of the precious metals the world over
156
The age of Protection the heroic
160
The Bank resumes May 1 1821
162
The sneaking arts of underling tradesmen have made England what
166
Wholly ignored moral laws as the chief factors in civilization
167
Freetrade and Protection
169
One of the most distinguished disciples of Smith
173
Absurdity of his conclusion drawn from an assumed insulation of
174
If value be no attribute of money then divisibility is of no importance
181
Profit of Banks
189
0
190
List of speculative enterprises brought upon the money market note
195
17
199
Not the excess alone but all the issues of the Bank speedily return
202
The amount of such currency permanently outstanding increases
208
The currency inflated and the remedy convertibility
209
Smiths elements of price and classifications of property arbitrary
212
Essays Moral Political and Literary 1752
214
William Huskisson
216
Saved from suspension by the discovery of a package of notes
243
Testimony of the experts opposed to every principle on which currency
247
No conclusions reported by the Committee
249
The latter a great disturbing element in financial affairs
253
No difference in principle between the several forms of paper money
288
The whole effort of nature in the same direction
291
Their ignorance of banking systems of the United States
293
Sketch of Banking in the several States
295
Those of the other have no support but its bills
299
The advantages assumed for the Act wholly imaginary
306
Thomas TOOKE
313
John STUART MILL
331
When one lends the money is not the capital loaned
332
Inconvertible currencies
341
Convertible currencies often inflate prices enormously 851
352
Mills description of the nature and functions of money borrowed from
357
MACLEOD
363
Mr Mill a most striking example of unwarranted assumption and imbecility
365
Gold and silver to be demonetized in case of a war as a means of retainin
373
Manual of Political Economy
375
Paper money not symbolic raises prices
381
Quoted for the purpose of illustrating the present condition of monetary
391
Mr Jevonss address proof of the extremity to which the old school
396
Unlike measures of weight and extension money as the measure of value
410
WILLIAM G SUMNER
416
27
417
A R PERRY
422
CURRENCY AND BANKING IN THE UNITED STATES
428
29
432
Mission of Franklin to France
439
The notes still counterfeited
447
Address of Congress to the people
454
Mischievous effect of the government currency
460
Local jealousies and rivalries
466
Could derive no advantage from provisions designed to promote the general
471
Illustrations of his opinions upon the nature and powers of our government
477
The constitutionality of the Bank
479
Charter of the Bank expired March 4 1811
483
His work only a restatement of Mill and McCulloch
486
Continued creation of new Banks
487
Founded by the framers of the Constitution
491
Losses arising from its
497
The second Bank opposed on the same grounds as the first
503
The will or opinion of each department of government its rule
509
General Jacksons attack on the Bank the first attempt in this country
517
Reasons for General Jacksons attack on the Bank
524
Their suspension and resumption
530
154
531
Must sustain the Banks of the States
536
In Ohio
549
Election of Mr Lincoln to the Presidency
556
Account of their operations
563
Draws the bill for the second issue of notes
573
The value of the latter can never be ascertained 678
579
1st Provision of a United States Bank
582
The note holders to be left to take care of themselves
597
Plan of Mr Sherman Secretary of the Treasury for resumption
603
Never to form the reserves of Banks
609
The adoption of a double would result in a single standard that of silver
615
Danger of proceeding too rapidly in the process of resumption
623
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Page 121 - 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 441 - 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 430 - I do not conceive we can exist long as a nation without lodging somewhere a power which will pervade the whole Union in as energetic a manner as the authority of the State governments extends over the several States.
Page xxxi - And Abraham hearkened unto Ephron; and Abraham weighed to Ephron the silver, which he had named in the audience of the sons of Heth, four hundred shekels of silver, current money with the merchant.
Page 473 - 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 433 - 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 443 - The judiciary of the United States is the subtle corps of sappers and miners constantly working under ground to undermine the foundations of our confederated fabric.
Page 440 - 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 and of amendments thereto, they constituted a general government for special purposes, delegated to that government certain definite powers, reserving each State to itself, the residuary mass of right to their own self-government; and that whensoever the general...
Page 434 - ... or other, to some one of so long a list of enumerated powers. It would swallow up all the delegated powers, and reduce the whole to one power, as before observed.
Page 143 - In every country it always is and must be the interest of the great body of the people to buy whatever they want of those who sell it cheapest.

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