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 viii
... ratio to the amount of loans 20 20 Hence a change in their amount followed by a far greater one in the amount of currency 20 Profit of Banks . 21 Advantages of a currency issued by them in reducing prices 21 All merchandise entering ...
... ratio to the amount of loans 20 20 Hence a change in their amount followed by a far greater one in the amount of currency 20 Profit of Banks . 21 Advantages of a currency issued by them in reducing prices 21 All merchandise entering ...
Page xii
... ratio to products exchanged . Paper money displaces a corresponding amount of coin Does not displace a corresponding amount of coin His views upon money wholly erroneous . His ignorance , and indifference to truth The anomalous ...
... ratio to products exchanged . Paper money displaces a corresponding amount of coin Does not displace a corresponding amount of coin His views upon money wholly erroneous . His ignorance , and indifference to truth The anomalous ...
Page xiii
... ratio to its cost Money essential to the value of all other commodities Need not be actively employed to be productive . . Groundlessness and absurdity of Smith's assumptions and conclusions Distinction between real and nominal prices A ...
... ratio to its cost Money essential to the value of all other commodities Need not be actively employed to be productive . . Groundlessness and absurdity of Smith's assumptions and conclusions Distinction between real and nominal prices A ...
Page xiv
... ratio to its amount 134 The advances that Banks may make to merchants never to exceed the amount of coin which would otherwise be in circulation 135 Advances to be made to merchants only as the representatives of manu- facturers .. 135 ...
... ratio to its amount 134 The advances that Banks may make to merchants never to exceed the amount of coin which would otherwise be in circulation 135 Advances to be made to merchants only as the representatives of manu- facturers .. 135 ...
Page xvi
... divisibility is of no importance Rapidity of circulation 177 178 Illustration : money employed at the siege of Tournay Absurdity of the illustration . 178 · • 178 The value of money is in ratio to the rapidity xvi TABLE OF CONTENTS .
... divisibility is of no importance Rapidity of circulation 177 178 Illustration : money employed at the siege of Tournay Absurdity of the illustration . 178 · • 178 The value of money is in ratio to the rapidity xvi TABLE OF CONTENTS .
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Common terms and phrases
accommodation bills Adam Smith amount of coin Aristotle assumed balance of trade Bank of England bank-notes bankers bills given borrowed bullion capital cent circulation Committee commodities consequently consumption contraction convertible corresponding amount cost country Banks debt demand deposits depreciation discount distribution Economists effect equal excess exchange exportation foreign gold and silver greater holders Hume increase industry instrument of commerce issue issuers joint-stock Banks kind labor latter less liabilities loans Lord Overstone loss means ment merchandise merchants 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 revenue says securities seigniorage Smith specie supply supposed symbolic currency thing tion trade transactions usury value of money Wealth of Nations whole wholly
Popular passages
Page 467 - 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 459 - 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 466 - 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 11 - 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 139 - Unto a stranger thou mayest lend upon usury ; but unto thy brother thou shalt not lend upon usury : that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it.
Page 139 - 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 2 - And a river went out of Eden to water the garden, and from thence it was parted and became into four heads.
Page 502 - Union, with its boundless means of corruption and its numerous dependents, under the direction and command of one acknowledged head; thus organizing this particular interest as one body and securing to it unity and concert of action throughout the United States and enabling it to bring forward, upon any occasion, its entire and undivided strength to support or defeat any measure of the Government.
Page 482 - Waiving the question of the constitutional authority of the Legislature to establish an incorporated bank as being precluded in my judgment by repeated recognitions under varied circumstances of the validity of such an institution in acts of the legislative, executive, and judicial branches of the Government, accompanied by indications, in different modes, of a concurrence of the general will of the nation...
Page 502 - ... few/ and to govern by corruption or force, are aware of its^ power, and prepared to employ it. Your banks now furnish your only circulating medium, and money is plenty or scarce, according to the quantity of notes issued by them. While they have capitals not greatly disproportioned to each other,, they are competitors in business, and no one of them can exercise dominion over the rest ; and although, in the present state of the currency, these banks may and do operate injuriously upon the habits...