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American amount appear authority average bank base become bills bonds cash cause cent circulation classes coin colonies commerce commodities contraction currency debt debtors demand depreciation dollar effect England exchange expanding fact fall falling prices foreign France funds give gold and silver Government hands importance increase independent industry interest intrinsic iron issued keep labor land legal tender less limited loans means measure medium ment merchants metallic millions mines monetary money volume movement multiple standard necessary notes paid panic paper money payments period present production Prof profit prosperity purchasing power quantity reason receive redeemable regulation represent result rise rose says shows specie steady things tion trade Treasury United volume wages Walker wealth weight whole worth
第 7 頁 - The coin deposited for or representing the certificates shall be retained in the Treasury for the payment of the same on demand. Said certificates shall be receivable for customs, taxes, and all public dues, and, when so received, may be reissued.
第 7 頁 - That any holder of the coin authorized by this act may deposit the same with the treasurer or any assistant treasurer of the United States...
第 11 頁 - North Carolina, just after the Revolution, issued a large amount of paper, which was made receivable in dues to her. It was also made a legal tender, but which, of course, was not obligatory after the adoption of the Federal Constitution. A large amount, say between four and five hundred thousand dollars, remained in circulation after that period, and continued to circulate for more than twenty years at par with gold and silver during the whole time, with no other advantage...
第 101 頁 - That an increase of the quantity of money raises prices, and a diminution lowers them, is the most elementary proposition in the theory of currency, and without it we should have no key to any of the others.
第 153 頁 - Such a standard would add a wholly new degree of stability to social relations, securing the fixed incomes of individuals and public institutions from the depreciation which they have often suffered.
第 162 頁 - ... denomination of the money. The difficulties for want of cash were accordingly very great, the chief part of the trade being carried on by the extremely inconvenient method of barter; when, in 1723, paper money was first made there, which gave new life to business, promoted greatly the settlement of new lands (by lending small sums to beginners on easy interest, to be repaid by instalments), whereby the province has so greatly increased in inhabitants...
第 157 頁 - This currency, as we manage it, is a wonderful machine. It performs its office when we issue it ; it pays and clothes troops, and provides victuals and ammunition ; and when we are obliged to issue a quantity excessive, it pays itself off by depreciation.
第 156 頁 - It is hardly correct to speak of a standard of value. The Constitution does not speak of it. It contemplates a standard for that which has gravity or extension, but value is an ideal thing. The coinage Acts fix its unit as a dollar ; but the gold or silver thing we call a dollar is in no sense a standard of a dollar. It is a representative of it.
第 13 頁 - An Act to prevent paper bills of credit hereafter to be issued in any of His Majesty's colonies or plantations in America from being declared to be a legal tender in payments of money, and to prevent the legal tender of such bills as are now subsisting from being prolonged beyond the periods limited for calling in and sinking the same.