Selected Speeches and Reports on Finance and Taxation, from 1859 to 1878D. Appleton, 1879 - 640 pages |
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Page 13
... objection , we may put upon its passage a bill for that purpose which I am instructed to report from the Committee of Ways and Means . The House will perceive that the bill now before us is a mere tem- porary expedient to provide for ...
... objection , we may put upon its passage a bill for that purpose which I am instructed to report from the Committee of Ways and Means . The House will perceive that the bill now before us is a mere tem- porary expedient to provide for ...
Page 24
... objections that have been made here and many more were urged , the House of Representatives , by a large vote , declared that it was necessary to issue demand notes , and that this clause was indispensable to their negotiation and ...
... objections that have been made here and many more were urged , the House of Representatives , by a large vote , declared that it was necessary to issue demand notes , and that this clause was indispensable to their negotiation and ...
Page 31
John Sherman. The only objection to this issue of paper money is that too much may be issued . There is the only danger in it . I do not believe the issue of $ 150,000,000 will do any harm ; but if you continue to issue other sums , you ...
John Sherman. The only objection to this issue of paper money is that too much may be issued . There is the only danger in it . I do not believe the issue of $ 150,000,000 will do any harm ; but if you continue to issue other sums , you ...
Page 37
... objections to this tax ? for this sub- ject has been conversed about , and I bring the matter to the attention of the Senate now , in order that we may anticipate these objections , and excite others , if they exist . It is objected ...
... objections to this tax ? for this sub- ject has been conversed about , and I bring the matter to the attention of the Senate now , in order that we may anticipate these objections , and excite others , if they exist . It is objected ...
Page 41
... objections to local banks , which are obvious . Senators will recognize them and feel their force when I state them ... objection to these local banks , and it is one which we cannot disregard , and that is their unequal distribution ...
... objections to local banks , which are obvious . Senators will recognize them and feel their force when I state them ... objection to these local banks , and it is one which we cannot disregard , and that is their unequal distribution ...
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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...