A Few Facts And Suggestions On Money Trade And Banking
A Few Facts And Suggestions On Money Trade And Banking
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To quickly assess the difficulty of the text, read a short excerpt:
The amount then 36 MONEY, TRADE, AND BANKING.
needed was so large as to make it impracticable to immediately collect it by taxation.
Some individuals could surrender all their prop- erty without seriously disturbing society or them- selves ; but all could not give up so large a part without bringing disaster on all. Each person at the time he voluntarily surrendered his property received for it from the whole people (the govern- ment) their solemn obligation (United States bonds) to contribute ...from their property from year to year (taxes) an amount sufficient to return to him, on a certain day in the future, a specified amount of property as the equivalent of that vol- untarily surrendered by him to the government; until which day the government further agreed to pay to him, quarterly, a sum agreed upon for the use of the capital surrendered.
These government bonds are, in essence, titles to a fraction of the property of each and every person in the country, who thankfully gave the title to this fraction of his property at the time the bonds were made, that he might thereby save the bal- ance ; each individual is personally indebted to the holders of these bonds because of the voluntary surrender of his property which the bondholder then made in place of his surrender.
What to read after A Few Facts And Suggestions On Money Trade And Banking?
You can find similar books in the "Read Also" column, or choose other free books by J H Joseph Henry Walker to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The amount then 36 MONEY, TRADE, AND BANKING.
needed was so large as to make it impracticable to immediately collect it by taxation.
Some individuals could surrender all their prop- erty without seriously disturbing society or them- selves ; but all could not give up so large a part without bringing disaster on all. Each person at the time he voluntarily surrendered his property received for it from the whole people (the govern- ment) their solemn obligation (United States bonds) to contribute ...from their property from year to year (taxes) an amount sufficient to return to him, on a certain day in the future, a specified amount of property as the equivalent of that vol- untarily surrendered by him to the government; until which day the government further agreed to pay to him, quarterly, a sum agreed upon for the use of the capital surrendered.
These government bonds are, in essence, titles to a fraction of the property of each and every person in the country, who thankfully gave the title to this fraction of his property at the time the bonds were made, that he might thereby save the bal- ance ; each individual is personally indebted to the holders of these bonds because of the voluntary surrender of his property which the bondholder then made in place of his surrender.
What to read after A Few Facts And Suggestions On Money Trade And Banking?
You can find similar books in the "Read Also" column, or choose other free books by J H Joseph Henry Walker to read onlineMoreLess
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