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American amount balance Bank of England bankers banks of issue become better bills Bonamy Price Britain bullion called capital cash causes cent Chap CHAPTER circulation coin commodities Congress consideration considered continually currency debt deposit discount dollars economic effect equal error evils exchange expressed fact favor forces foreign France fundamental give gold Government hand held Hence important increase industry interest invested Issue Department kind labor latter limitation loan logical managers market value means measure metal method monetary national banks natural laws nearly needed notes paper money party payment political postulate practice present principles production Professor profit quantity question reason regulate reserve respect result says securities silver sound supply and demand term theory things tion trading power treating true United volume wealth whole
Halaman 39 - The real price of every thing — what every thing really costs to the man who wants to acquire it — is the toil and trouble of acquiring it. What every thing is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else, is the toil and trouble which it can save to himself and which it can impose upon other people.
Halaman 305 - Most unquestionably there is no "legal tender, and there can be no legal tender in this country, under the authority of this government or any other, but gold and silver, either the coinage of our own mints or foreign coins at rates regulated by congress.
Halaman 308 - The absence of the precious metals will, it is believed, be a temporary evil ; but, until they can again be rendered the general medium of exchange, it devolves on the wisdom of congress, to provide a substitute, which shall equally engage the confidence, and accommodate the wants, of the citizens throughout the union. If the operation of the State banks cannot produce this result, the probable operation of a National Bank will merit consideration...
Halaman 308 - If the operation of the State banks cannot produce this result, the probable operation of a National Bank will merit consideration ; and if neither of these expedients be deemed effectual, it may become necessary to ascertain the terms upon which the notes of the Government (no longer required as an instrument of credit) shall be issued, upon motives of general policy, as a common medium of circulation.
Halaman 100 - As the whole of the goods in the market compose the demand for money, so the whole of the money constitutes the demand for goods. The money and the goods are seeking each other for the purpose of being exchanged.
Halaman 166 - Some have contended, and I am not prepared to deny the position, that if we had a new state of society to deal with, the wisest plan would be, to claim for the State the exclusive privilege of the issue of promissory notes, as we have claimed for it the exclusive privilege of coinage.
Halaman 217 - ... to increase the profits, without much pecuniary interest or personal responsibility in the administration. The constant tendency of Banks is, therefore, to lend too much, and to put too many notes in circulation. Now, the addition of many notes, even while they are as good as coin by being always exchangeable for coin, may be injurious, because the increase of the mixed mass of money generally occasions a rise in the price of all commodities.
Halaman 64 - ... issue department, save as hereinafter is mentioned, but it shall be lawful for the said governor and company to diminish the amount of such securities, and again to increase the same to any sum not exceeding in the whole the sum of fourteen million pounds, and so from time to time as they shall see occasion...
Halaman 305 - The power to make any thing but gold and silver a tender in payment of debts, is withdrawn from the states, on the same principle with that of issuing a paper currency.