A Brief History of Panics And Their Periodical Occurrence in the United States
A Brief History of Panics And Their Periodical Occurrence in the United States
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In our eReader you can find the full English version of the book. Read A Brief History of Panics And Their Periodical Occurrence in the United States Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A Brief History of Panics And Their Periodical Occurrence in the United States
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To quickly assess the difficulty of the text, read a short excerpt:
--The course of business, having scarcely suffered astoppage, continued until 1831, and not till then did The Bank, beingthe agent of the Treasury and having $11, 600, 000 on deposit, would havebeen forced to become a borrower in order to pay out the $2, 700, 000demanded from it. However, its request was granted.
Jackson soon learned with surprise that, business being more impededthan ever, the President had despatched an agent to England to contractwith the Barings a loan of $6, 000, 000. Seei...ng the Bank to be insolventhe resolved not to renew its charter. The Bank tried to hide itsinsolvency by the most foolish land speculations, which had alreadycaused such great disaster in 1818 and 1820. The issue of bank notes hadgiven fresh spirit to speculation. These bank notes were received by theNational Treasury and returned to the Bank on deposit, which againloaned them to pay for land upon security of the land sold, with theresult that the credit granted the Nation was merely fictitious.
What to read after A Brief History of Panics And Their Periodical Occurrence in the United States?
You can find similar books in the "Read Also" column, or choose other free books by Juglar Clément to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
--The course of business, having scarcely suffered astoppage, continued until 1831, and not till then did The Bank, beingthe agent of the Treasury and having $11, 600, 000 on deposit, would havebeen forced to become a borrower in order to pay out the $2, 700, 000demanded from it. However, its request was granted.
Jackson soon learned with surprise that, business being more impededthan ever, the President had despatched an agent to England to contractwith the Barings a loan of $6, 000, 000. Seei...ng the Bank to be insolventhe resolved not to renew its charter. The Bank tried to hide itsinsolvency by the most foolish land speculations, which had alreadycaused such great disaster in 1818 and 1820. The issue of bank notes hadgiven fresh spirit to speculation. These bank notes were received by theNational Treasury and returned to the Bank on deposit, which againloaned them to pay for land upon security of the land sold, with theresult that the credit granted the Nation was merely fictitious.
What to read after A Brief History of Panics And Their Periodical Occurrence in the United States?
You can find similar books in the "Read Also" column, or choose other free books by Juglar Clément to read onlineMoreLess
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