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

Henry Varnum Poor

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

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The indented lines have reference to the views or opinions of other writers	1

Testimony of the experts opposed to every principle on which currency	2

A currency of government notes never issued for the purpose of facilitating	4

The standard of value not the instrument by which the exchanges	6

Currencies like bills of exchange only instruments arising in production	8

Their use as money double barter	10

Hence the origin of paper money	11

Money the highest form of finished work	19

His ideas of money wholly borrowed from Adam Smith	286

Advantages of a currency issued by them in reducing prices	291

Its effect to create two Banks of issue	298

Value essential only in the latter	316

Or to cause valueless articles to circulate	322

The cause	328

When one lends the money is not the capital loaned	332

Inconvertible currencies	341

Disastrous consequences of its debasement Macaulay	21

Their use always barter	22

Distinction between capitalists and Banks	31

Reasons for General Jacksons attack on the Bank	35

Of the discount of bills given in the purchase of securities	38

Absurdity of such distinctions	39

All government currencies the representatives of debt not of capital	45

A government currency never flexible as it bears no relation to the means	55

Always a forced loan	57

Becomes an authority with the Church	69

JOHN	81

Goes to France and founds a Bank based upon coin	88

Does not displace a corresponding amount of coin	90

Based upon or symbolize merchandise and retired by its	99

Adopts the deductive method	100

The measure of value a palpable object	107

Never issued in the manner supposed by Smith	115

Money is the only one the maintenance of which can occasion	121

Exported in consequence of previous expenditures	126

Advantages resulting from the use of the former	129

Advances to be made to merchants only as the representatives of manu	135

They suspend specie payment	138

These in harmony with the spirit of the	143

Sketch of the history of usury note	144

A sale of goods for money an exchange of equal values	152

The age of Protection the heroic	160

The sneaking arts of underling tradesmen have made England what	166

Freetrade and Protection	169

Were England insulated her currency might as well be paper as coin	172

13	180

Absurdity of the illustration	184

To be issued by parties possessing capital and not subject to the risks	189

Supported by Sir Charles Wood Lord Halifax	190

The bullion of the Bank on the 21st of February 1797 reduced	196

Description of the mode of their issue	199

Resolutions accompanying the report of the Committee rejected	209

Smiths elements of price and classifications of property arbitrary	212

Essays Moral Political and Literary 1752	214

WILLIAM HUSKISSON	216

Government greatly the loser by issuing money	222

The Principles of Political Economy and Taxation 1817	223

His assumptions wholly opposed to the fact	229

The Bank resumes May 1 1821	235

Committee of the House of 1832 upon the extension of the Bank Charter	242

Report of the Committee	243

Hence a change in their amount followed by a far greater one in the amount	247

Involved the subject in still greater obscurity and error	248

Evidence of J Horsley Palmer President and other Directors	254

Profit of Banks	262

The Bank compelled to supply the demand	264

Ricardo the central figure of the new school of Economists as Smith of	269

A large amount of gold in the Bank evidence of a depressed condition	271

Reflections Suggested by a Perusal of the Pamphlet of Mr J Horsley	274

Causes of the disasters of 1839	280

Convertible currencies often inflate prices enormously	351

Lesson taught by the history of the Seven United Provinces	358

Money does not represent commodities at all but only debt	364

The notes of private Banks and the Bank of England precisely the same	370

Manual of Political Economy	375

Paper money not symbolic raises prices	381

Legaltender paper money	389

amount of work	396

The incredible absurdity that gold is wealth	402

CONTINENTAL WRITERS note	408

Unlike measures of weight and extension money as the measure of value	410

WILLIAM G SUMNER	416

The Cremation Theory of Specie Resumption 1875 note	424

First issue of 3000000 June 22d 1775	430

29	432

Order of Congress that the notes pass at their nominal value	436

Varying fortunes of the war	442

Reduced to a formula	443

Monopolies of money and merchandise always the effect of a legaltender	448

When the Bank was upon a specie basis it regulated its issues by	453

Continued issues and decline of notes 454	454

The opposing doctrines not the result of natural laws but of conditions	455

209	459

Mischievous effect of the government currency	460

Adoption of the Constitution	467

Banking capital may be raised by an issue of notes	469

welfare	471

Complete triumph of his ideas in his election 1800	480

Its influence in restoring specie payments	486

Report of the Committee upon the Bank	490

Summary of the Report	502

Jackson inaugurated the reign of anarchy and barbarism	509

Sought to regulate the value of all the labor and property of the country	515

Rapid increase of State Banks	522

Value not an attribute of money	523

Their suspension and resumption	524

His work only a restatement of Mill and McCulloch	531

Declared guilty of a breach of privilege of the House	534

Amount of their capital and loans note	539

Sketch of Banking in the several States	545

In Illinois and Wisconsin	552

In providing a banking capital makes no distinction between substance	556

R�sum� of the above	562

The suspension of the Banks a precautionary measure	568

Criminality involved in their issue	579

A currency issued by government in amount sufficient for the collection	581

METHOD OF RESUMPTION	585

Their discharge in coin impracticable	595

The New England and New York systems compared	599

Absurdity of the statement that notes are now hoarded	610

AMOUNT OF COIN REQUIRED	617

Danger of proceeding too rapidly in the process of resumption	623

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Money and Its Laws: Embracing a History of Monetary Theories, and a History ...
Henry Varnum Poor
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Common terms and phrases

accommodation bills Adam Smith amount of coin Aristotle assumed Bank of England bank-notes bankers bills given borrowers bullion capital circulation commerce Committee commodities consequently consumers consumption contraction convertible corresponding amount cost credits issued debt demand deposits depreciated discharge discount distribution Economists effect equal excess exchange exports foreign gold and silver greater hand holders Hume immediately inconvertible increase industry instruments issuers kind labor latter laws liabilities loans Lord Overstone loss means measure ment merchandise merchant methods nature necessary never notes and credits operations paid paper currency paper money parties payable payment Political Economy possessed precious metals principle produce profit proper purchase quantity rate of interest ratio reason received reduced rency represent reserves says securities sell Smith specie speedily supply supposed symbolic currency theory thing tion trade transactions usury value of money Wealth of Nations whole wholly

Bibliographic information

Title	Money and Its Laws: Embracing a History of Monetary Theories, and a History of the Currencies of the United States Making of the modern world. Part 2 Taxation & Economic Reform in America Parts I & II, 1781-2009
Author	Henry Varnum Poor
Edition	2
Publisher	H. V. and H. W. Poor, 1877
Original from	the University of California
Digitized	9 Mar 2009
Length	623 pages

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