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Other editions - View allCommon terms and phrases1st of January actual afford aggregate amount of currency annual average bank notes Bank of England bills of exchange bullion capital cause chartered coinage Commercial commodities Congress consists Constitution country banks currency wanted debts deposits depreciation difference discount District of Columbia drafts duties equal estimated exceed exported fluctuations forty millions France gold and silver gold coins gold to silver greater hundred millions increase individuals intrinsic value issues of paper labor legal tender less loans metallic currency millions of dollars necessary New-York notes in circulation object operations paid paper currency paper money payable Pennsylvania pound sterling precious metals produce proper purchase purpose quantity regulated relative value rency render respect Scotland seignorage silver coins South Carolina specie payments standard of value substituted supply suspension of specie tion Treasury troy weight uniform United vaults wealth whilst whole amount Popular passagesPage 72 - The United States in Congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective States... Page 5 - It is invested with the power to coin money, and to regulate the value thereof, and to regulate commerce with foreign nations and among the several States. Page 73 - ... Jefferson in his construction of this clause, agrees with him in limiting the application of the words "to provide for the general welfare," to the express power given by the first sentence of the clause. In his report on manufactures, he contends for the power of Congress to allow bounties for their encouragement, and, after having stated the three qualifications of the power to lay taxes, viz., 1st, that duties, imposts, and excises, should be uniform throughout the United States; 2nd, that... Page 95 - No person, association of persons or corporation, except such as are expressly authorized by law, shall keep any office for the purpose of issuing any evidences of debt, to be loaned or put in circulation as money; nor shall they issue any bills or promissory notes or other evidences of debt as private bankers, for the purpose of loaning them or putting them in circulation as money, unless thereto specially authorized by law. Page 74 - ... general welfare, and for which, under that description, an appropriation of money is requisite and proper. And there seems to be no room for a doubt that whatever concerns the general interests of learning, of agriculture, of manufactures, and of commerce are within the sphere of the national councils, as far as regards an application of money. Page 108 - The variety of topics is of course vast, and they are treated in a manner which is at once so full of information and so interesting, that the work, instead of being merely referred to, might be regularly perused with as much pleasure as profit.— Baltimore American. Page 44 - ... of near thirty millions of dollars to the banking capital of the country. That increase took place on the eve of and during a war which did nearly annihilate the exports and both the foreign and coasting trade. And, as the salutary regulating power of the Bank of the United States no longer existed, the issues were accordingly increased much beyond what the other circumstances already mentioned rendered necessary. Page 107 - ... readers might not be incommoded, and deprived of pleasure or improvement, by ignorance of facts or expressions used in books or conversation. Such a work must obviously be of great utility to every class of readers. It has been found so much so in Germany, that it is met with everywhere, among the learned, the lawyers, the military, artists, merchants, mechanics, and men of all stations. The reader may judge how well it is adapted to its object, from the circumstance, that though it now consists... Page 25 - ... to 1; instead of which, it was then at the rate of six dollars in paper for one silver dollar, and the whole amount of the paper in circulation was worth only five millions in silver. It is obvious that the difference was due to lessened confidence. The capture of Burgoyne's army was followed by the alliance with France, and her becoming a party to the war against England. The result of the war was no longer considered as doubtful, and sanguine expectations were formed of its speedy termination.... Page 74 - No objection ought to arise to this construction, from a supposition that it would imply a power to do whatever else should appear to Congress conducive to the general welfare. A power to appropriate money with this latitude which is granted too in express terms, would not carry a power to do any other thing, not authorized in the Constitution, either expressly or by fair implication. References to this bookFrom Google ScholarThe Competitive Supply of MoneyBenjamin Klein - 1974 - Journal of Money, Credit and Banking The US Specie Standard, 1792–1932: Some Monetarist ArithmeticLawrence H Officer - 2002 - Explorations in Economic History Bank Chartering and Political Corruption in Antebellum New YorkFree Banking as Reform References from web pagesFootnotes; Smith, Vera, The Rationale of Central Banking: Library ... The Emergence of a National Economy / Major Works / Pickering and ... Who Is That Guy on the $10 Bill?(Alexander Hamilton) - Economic ... GALLATIN, Albert (1761-1849) Bibliography Online Library of Liberty - Appendix: On the Working of the ... FOR THE PERIOD Vorwort Bibliographic information
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