The ways and means of payment; a full analysis of the credit system

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J.B. Lippincott & Company, 1859 - Banks and banking - 644 pages

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Page 397 - Board, that it is indispensably necessary for the public service, that the Directors of the Bank of England should forbear issuing any cash in payment, until the sense of Parliament can be taken on that subject...
Page 628 - The states are expressly prohibited from making anything but gold and silver a tender in payment of debts...
Page 140 - That the money of account of the United States shall be expressed in dollars or units, dimes or tenths, cents or hundredths, and mills or thousandths...
Page 425 - ... the history of banking; that they supported themselves from 1797 to 1812, without any protection from the restriction by which the Bank of England, and that of Ireland, were relieved from cash payments ; that there was little demand for gold during the late embarrassments in the circulation ; and that in the whole period of their establishment there are not more than two or three instances of bankruptcy.
Page 555 - The quantity of labour which any particular quantity of them can purchase or command, or the quantity of other goods which it will exchange for, depends always upon the fertility or barrenness of the mines which happen to be known about the time when such exchanges are made.
Page 556 - Between 1630 and 1640, or about 1636, the effect of the discovery of the mines of America in reducing the value of silver appears to have been completed...
Page 608 - ... law, and shall make his payments in the money so received for the drafts furnished, unless, in either case, he can exchange the means in his hands for gold and silver at par.
Page 607 - ... all receivers of public moneys at the several land offices, all postmasters, and all public officers of whatsoever character, be and they are hereby required...
Page 64 - Money, as has been said, is an ideal scale of equal parts. If it be demanded what ought to be the standard value of one part, I answer by putting another question: What is the standard length of a degree, a minute, or a second ? None ; and there is no necessity of any other than what, by convention, mankind think fit to give.
Page 65 - Whether power to command the industry of others be not real wealth ? And whether money be not in truth, tickets or tokens for conveying and recording such power, and whether it be of great consequence what materials the tickets are made of?

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