National Banks What Shall Be Substituted for Them An Address On Currency Refor
National Banks What Shall Be Substituted for Them An Address On Currency Refor
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In our eReader you can find the full English version of the book. Read National Banks What Shall Be Substituted for Them An Address On Currency Refor 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 National Banks What Shall Be Substituted for Them An Address On Currency Refor
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Second — It is said that the national bank notes are, at all events, safe, and that, being safe, they pass current in every part of the country at their face value. The national bank notes are as good as their indorser is, and their in- dorser is the government of the United States. Your note or mine may not be negotiable for ten dollars; but if William H. Vanderbilt puts his name on the back of it, the note is "as good as Vanderbilt. " The national bank note is, perhaps, as good as the governm...ent note, but it cer- tainly is no better. But what would be thought of a man who should pay for the privilege of indorsing another man's note ? He would stand a chance of being sent to a lunatic 14 asylum. Well, the government indorses the national bank note, gives it to the bank for nothing, and pays the bank interest on the bond which it deposits to secure the note — the bond itself being the government's promise to pay in a certain form and on stipulated terms.
Third — It is held by the advocates of the national banks that the banks not only supply a safe currency, but that their currency is regulated by what is termed the wants of trade.
What to read after National Banks What Shall Be Substituted for Them An Address On Currency Refor?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Kinsella to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Second — It is said that the national bank notes are, at all events, safe, and that, being safe, they pass current in every part of the country at their face value. The national bank notes are as good as their indorser is, and their in- dorser is the government of the United States. Your note or mine may not be negotiable for ten dollars; but if William H. Vanderbilt puts his name on the back of it, the note is "as good as Vanderbilt. " The national bank note is, perhaps, as good as the governm...ent note, but it cer- tainly is no better. But what would be thought of a man who should pay for the privilege of indorsing another man's note ? He would stand a chance of being sent to a lunatic 14 asylum. Well, the government indorses the national bank note, gives it to the bank for nothing, and pays the bank interest on the bond which it deposits to secure the note — the bond itself being the government's promise to pay in a certain form and on stipulated terms.
Third — It is held by the advocates of the national banks that the banks not only supply a safe currency, but that their currency is regulated by what is termed the wants of trade.
What to read after National Banks What Shall Be Substituted for Them An Address On Currency Refor?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Kinsella to read onlineMoreLess
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