Letter of the Hon Hugh L White to the Legislature of Tennessee On Declining
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In our eReader you can find the full English version of the book. Read Letter of the Hon Hugh L White to the Legislature of Tennessee On Declining 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 Letter of the Hon Hugh L White to the Legislature of Tennessee On Declining
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To quickly assess the difficulty of the text, read a short excerpt:
This v. Ould eflect the prices of pro- perty, of labor, and of every thing else, and would render it next to impossible for even a prudent man, who happened to be in debt, ever to extricate himself.
Beside this, the heavy draws for specie upon banks would compel them, in a short time, either to wind up or to do a very precarious business. A^ hen- ever a suspension of specie y)ayments would take place, we would have a depre- ciated paper currency, on which to do the business of the country, and ...specie would become an article of merchandise. — The man in office, or who had a job or contract with the government would receive his salary or his pay in specie, which he would immediately sell for bank paper, receiving a premium of some tenor fifteen per centum, and with that paper pay his debts or purchase such property as he might wish. This practice is at this momeut in operation. For every hundred dollars paid me as a member of Congress, I can receive one hundred and eight or nine dollars in bank notes, and with them pay the landlord who feeds or the tailor who clothes me.
What to read after Letter of the Hon Hugh L White to the Legislature of Tennessee On Declining?
You can find similar books in the "Read Also" column, or choose other free books by Hugh Lawson White to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This v. Ould eflect the prices of pro- perty, of labor, and of every thing else, and would render it next to impossible for even a prudent man, who happened to be in debt, ever to extricate himself.
Beside this, the heavy draws for specie upon banks would compel them, in a short time, either to wind up or to do a very precarious business. A^ hen- ever a suspension of specie y)ayments would take place, we would have a depre- ciated paper currency, on which to do the business of the country, and ...specie would become an article of merchandise. — The man in office, or who had a job or contract with the government would receive his salary or his pay in specie, which he would immediately sell for bank paper, receiving a premium of some tenor fifteen per centum, and with that paper pay his debts or purchase such property as he might wish. This practice is at this momeut in operation. For every hundred dollars paid me as a member of Congress, I can receive one hundred and eight or nine dollars in bank notes, and with them pay the landlord who feeds or the tailor who clothes me.
What to read after Letter of the Hon Hugh L White to the Legislature of Tennessee On Declining?
You can find similar books in the "Read Also" column, or choose other free books by Hugh Lawson White to read onlineMoreLess
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