Silver Its True Place in the Circulation a Lecture Delivered On 6th May 1892
Silver Its True Place in the Circulation a Lecture Delivered On 6th May 1892
James Willway Treadwell
The book Silver Its True Place in the Circulation a Lecture Delivered On 6th May 1892 was written by author James Willway Treadwell Here you can read free online of Silver Its True Place in the Circulation a Lecture Delivered On 6th May 1892 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Silver Its True Place in the Circulation a Lecture Delivered On 6th May 1892 a good or bad book?
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This is another fonn of bad credit paper, because they are based upon United vStates paper bonds, and although used as a war measure, thej'^ have no place in times of peace, for they should and could be based iipon silver and gold only. To show the weakness, let us suppose that a labor war should arise in the United States, and what would be the price of those $175, 000, 000 of bonds ? Probably as in the former Civil War, 35 per cent. , or only $. "}S, 000, 00(). Now according to the national b...ank law, our Comptroller of the Currency could call upon the national banks to deposit further security — $110, 000, 000. That would mean one of two things, either the national banks must at once surrender all their notes and all their bonds or go bankrupt, one and all. This . Shows the folly of credit paper not based upon silver or gold ; and rememlx. 'r that this $173, 000, 000 paper just drives out that volume of silver, or ])artly so, and really is one of the greatest causes of the present low i>rice of silver.
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