Banking a Short History
Banking a Short History
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In our eReader you can find the full English version of the book. Read Banking a Short History 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 Banking a Short History
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Holding that it did not matter how large a sum in bills was current if only their value was secured, and that neither the spirit of his instructions required, nor the cir- cumstances of the case permitted, the literal observance of 8o that portion of them which directed the redemption of all outstanding paper in that one year, a scheme was patched up which seemed to promise at least a brief postponement of the evil day. The General Court passed and the Gov- ernor, after obtaining at least the t...acit approval of the English Ministry, assented to an act intended to establish an ideal measure of value in all trade and dealings, let the instrument of exchange be what it would. This declared that all contracts should be understood to be payable in silver at 6s. 8d. Per ounce. The true value of silver at that time was about 5s. 2d. Sterling per ounce, but the old Pine Tree coinage of Massachusetts had been riNE TREK SHILLING.
light weight and 6s. 8d. Of that currency had been coined from an ounce of silver, so the standard now fixed was that which had obtained before the first issue of paper and, to that extent, was an honest one.
What to read after Banking a Short History?
You can find similar books in the "Read Also" column, or choose other free books by Franklin L Chase to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Holding that it did not matter how large a sum in bills was current if only their value was secured, and that neither the spirit of his instructions required, nor the cir- cumstances of the case permitted, the literal observance of 8o that portion of them which directed the redemption of all outstanding paper in that one year, a scheme was patched up which seemed to promise at least a brief postponement of the evil day. The General Court passed and the Gov- ernor, after obtaining at least the t...acit approval of the English Ministry, assented to an act intended to establish an ideal measure of value in all trade and dealings, let the instrument of exchange be what it would. This declared that all contracts should be understood to be payable in silver at 6s. 8d. Per ounce. The true value of silver at that time was about 5s. 2d. Sterling per ounce, but the old Pine Tree coinage of Massachusetts had been riNE TREK SHILLING.
light weight and 6s. 8d. Of that currency had been coined from an ounce of silver, so the standard now fixed was that which had obtained before the first issue of paper and, to that extent, was an honest one.
What to read after Banking a Short History?
You can find similar books in the "Read Also" column, or choose other free books by Franklin L Chase to read onlineMoreLess
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