Selected Speeches and Reports on Finance and Taxation, from 1859 to 1878D. Appleton, 1879 - 640 pages |
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Page 43
... equal throughout the country , this cost of exchange to the people would not exist . There is a still more serious objection to this paper money . With a system of local banks there is no power to control over - issues and consequent ...
... equal throughout the country , this cost of exchange to the people would not exist . There is a still more serious objection to this paper money . With a system of local banks there is no power to control over - issues and consequent ...
Page 51
... equal to at least one fourth of the amount of the notes it is authorized to issue . After explanation of the section by Mr. Powell , Mr. Sherman said : MR . PRESIDENT : When this bill was drawn , I did not expect that my friend from ...
... equal to at least one fourth of the amount of the notes it is authorized to issue . After explanation of the section by Mr. Powell , Mr. Sherman said : MR . PRESIDENT : When this bill was drawn , I did not expect that my friend from ...
Page 83
... equal amount of taxes gives value to our currency , and thus reduces the price of commodities we are compelled to buy . An increase of paper money benefits the tax - payer now at the expense of the soldier . It re- duces the purchasing ...
... equal amount of taxes gives value to our currency , and thus reduces the price of commodities we are compelled to buy . An increase of paper money benefits the tax - payer now at the expense of the soldier . It re- duces the purchasing ...
Page 87
... equal to that required in Great Britain after her wars with Napoleon . We have resources in this country , when united and at peace , far greater than those of any nation of modern times . Our accumulated wealth is not to be compared ...
... equal to that required in Great Britain after her wars with Napoleon . We have resources in this country , when united and at peace , far greater than those of any nation of modern times . Our accumulated wealth is not to be compared ...
Page 97
... equal- ization of bounties , which will require , if passed , near $ 200,000,000 . What will be the fate of that measure I have no means of knowing . The Pacific Railroad , now being constructed , will probably cost in the course of the ...
... equal- ization of bounties , which will require , if passed , near $ 200,000,000 . What will be the fate of that measure I have no means of knowing . The Pacific Railroad , now being constructed , will probably cost in the course of the ...
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Common terms and phrases
adopted amendment amount authorized bank circulation bank notes Bank of England bill bullion citizens claims coinage Committee on Finance Congress contract convert demand Democratic party depreciated duties effect estimated exchange favor February 25 five per cent five-twenty bonds four per cent fractional currency France free banking gold and silver gold coin Government greenbacks holder honorable House income tax increase issued labor legal tender legal-tender levied limit loan maintain measure ment millions national banks object paid paper money payable present President principle production proposed proposition public credit public debt public faith question rate of interest redeem redemption reduce repeal Republican party resumption resumption act revenue Secretary securities seigniorage Senate silver coin silver dollar six per cent specie payments specie standard standard of value tariff taxation three per cent tion trade trade dollar treaty United States notes vote
Popular passages
Page 496 - ... the faith of the United States is solemnly pledged to the payment in coin or its equivalent of all the obligations of the United States...
Page 141 - That the amount of the two kinds of notes together shall at no time exceed the sum of $150,000,000, and such notes herein authorized shall be receivable in payment of all taxes, internal duties, excises, debts and demands of every kind due to the United States, except duties on imports, and of all claims and demands against the United States of every kind whatsoever, except for interest upon bonds and notes, whichrshall be paid in coin, and shall also be lawful money and a legal tender in payment...
Page 513 - Treasury to prepare and provide for the redemption in this act authorized or required, he is authorized to use any surplus revenues, from time to time, in the Treasury not otherwise appropriated, and to issue, sell, and dispose of, at not less than par, in coin, either of the descriptions of bonds of the United States described in the act of Congress approved July fourteenth, eighteen hundred and seventy, entitled, " An act to authorize the refunding of the national debt...
Page 213 - ... apportioned to associations in the states, in the District of Columbia, and in the territories, according to representative population, and the remainder shall be apportioned by the Secretary of the Treasury among associations formed in the several states, in the District of Columbia, and in the territories, having due regard to the existing banking capital, resources, and business of such states, district, and territories.
Page 406 - Let it be understood that no repudiator of one farthing of our public debt will be trusted in public place, and it will go far toward strengthening a credit which ought to be the best in the world, and will ultimately enable us to replace the debt with bonds bearing less interest than we now pay.
Page 406 - And the United States also solemnly pledges its faith to make provision at the earliest practicable period for the redemption of the United States notes in coin.
Page 206 - An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof...
Page 168 - ... government? The Secretary will not say that such a provision would exceed the abilities of the country; but he is clearly of opinion, that to make it, would require the extension of taxation to a degree, and to objects, which the true interest of the public creditors forbids. It is therefore to be hoped, and even to be expected, that they will cheerfully concur in such modifications of their claims, on fair and equitable principles, as will facilitate to the government an arrangement substantial,...
Page 111 - to borrow money on the credit of the United States." The stock it issues is the evidence of a debt created by the exercise of this power. The tax in question is a tax upon the contract subsisting between the Government *and the individual. It bears directly upon that contract while subsisting and in full force.
Page 381 - Provided, That of United States notes not more than ten millions of dollars may be retired and canceled within six months from the passage of this act, and thereafter not more than four millions of dollars in any one month...