Money and Its Laws: Embracing a History of Monetary Theories, and a History of the Currencies of the United States |
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Page xxix
... tion 427 CURRENCY AND BANKING IN THE UNITED STATES . Character of the revolutionary government . • • 429 Did not possess the power of taxation 429 An issue of notes the obvious mode for providing for the prosecution of the war 429 ...
... tion 427 CURRENCY AND BANKING IN THE UNITED STATES . Character of the revolutionary government . • • 429 Did not possess the power of taxation 429 An issue of notes the obvious mode for providing for the prosecution of the war 429 ...
Page 10
... tion whatever , between an exchange in which a barrel of flour is given for a hat , and one in which ten gold dollars are given for it . The first may be termed simple barter , as articles which each party may produce are directly ...
... tion whatever , between an exchange in which a barrel of flour is given for a hat , and one in which ten gold dollars are given for it . The first may be termed simple barter , as articles which each party may produce are directly ...
Page 22
... tion very nearly to the ordinary rates of interest . As prices are reduced , however , consumption increases ; so that the aggregate amount of profits of a manufacturer , for example , may , for a time , be largely increased from ...
... tion very nearly to the ordinary rates of interest . As prices are reduced , however , consumption increases ; so that the aggregate amount of profits of a manufacturer , for example , may , for a time , be largely increased from ...
Page 23
... tion of that great work at once opened a market to an immense area , enabling a farmer in central Ohio to sell his wheat at $ 1.00 the bushel , or at three times its former price . The canal , at the same time , so reduced the cost of ...
... tion of that great work at once opened a market to an immense area , enabling a farmer in central Ohio to sell his wheat at $ 1.00 the bushel , or at three times its former price . The canal , at the same time , so reduced the cost of ...
Page 25
... tion . To an equal extent it would have to pay out , in the redemption of its notes and credits , a corresponding amount of coin . It would not unfrequently turn out that bills appar- ently the most legitimate would not be paid from ...
... tion . To an equal extent it would have to pay out , in the redemption of its notes and credits , a corresponding amount of coin . It would not unfrequently turn out that bills appar- ently the most legitimate would not be paid from ...
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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