American Slavery And Finances

Cover American Slavery And Finances
American Slavery And Finances
Robert J Robert John Walker
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Legal tender notes, receiv- able for all dues to the nation except customs, and fundable in this U. S. 5. 20 six per cent, stock.
3. The authorization of the banks recommended in his report, whose circulation would be secured not only by private capital, but by adequate deposits of U. S. Stock with the Government.
4. To maintain, in the meantime, as near to specie as practicable, this Federal Currency, 1st, by mak- ing* it receivable in all dues to the Government except for customs ; 2nd, by th
...e privilege of funding it in United States stock; 3rd, by en- hancing the benefit of this privilege, not only by making the stock, both principal and interest, pay- able in specie, but by making it gradually the ultimate basis of our whole bank circulation, which as shown by the Census Tables before referred to, (including deposits) nearly doubles every decade.
5. By imposing such a tax on the circulation of the State banks, as together with state or municipal taxes, would induce them to transfer their capital to the new banks proposed by the Secretary.


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