The new philosophy of money, or, The tragedy of economics: a text book of economics dealing with the nature and office of money and the correct method of its supply

Front Cover
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Common terms and phrases

Popular passages

Page 56 - And hath not oppressed any, but hath restored to the debtor his pledge, hath spoiled none by violence, hath given his bread to the hungry, and hath covered the naked with a garment; He that hath not given forth upon usury, neither hath taken any increase...
Page 1 - Many free countries have lost their liberty, and ours may lose hers; but if she shall, be it my proudest plume, not that I was the last to desert, but that I never deserted her. I know that the great volcano at Washington, aroused and directed by the evil spirit that reigns there, is belching forth the lava of political corruption in a current broad and deep, which is sweeping with frightful velocity over the whole length and breadth of the land, bidding fair to...
Page 2 - Here, without contemplating consequences, before high heaven and in the face of the world, I swear eternal fidelity to the just cause, as I deem it, of the land of my life, my liberty, and my love.
Page 69 - Like a young eagle, who has lent his plume To fledge the shaft by which he meets his doom, See their own feathers pluck'd, to wing the dart, Which rank corruption destines for their heart...
Page 100 - It is hardly correct to speak of a standard of value. The Constitution does not speak of it. It contemplates a standard for that which has gravity or extension, but value is an ideal thing. The coinage Acts fix its unit as a dollar ; but the gold or silver thing we call a dollar is in no sense a standard of a dollar. It is a representative of it.
Page 64 - In vain you tell me that artificial government is good, but that I fall out only with the abuse. The thing ! the thing itself is...
Page 100 - ... we assert that Congress may make anything which has no value money. What we do assert is, that Congress has power to enact that the government's promises to pay money shall be, for the time being, equivalent in value to the representative of value determined by the coinage acts, or to multiples...
Page 100 - If, therefore, they were, what we have endeavored to show, appropriate means for legitimate ends, they were not transgressive of the authority vested in Congress. Here we might stop; but we will notice briefly an argument presented in support of the position that the unit of money value must possess intrinsic value. The argument is derived from assimilating the constitutional provision respecting a standard of weights and measures to that conferring the power to coin money and regulate its value....
Page 72 - It is a mistake to assume that government must necessarily last forever. The institution marks a certain stage of civilization — is natural to a particular phase of human development.
Page 74 - Exchequer-Bills to such as could give adequate security. That is, they allowed hard-pressed citizens to mortgage their fixed capitals for equivalents of State-promises to pay, with which to liquidate the demands on them. The effect was magical. 2,202,000 only of Exchequer-Bills were required. The consciousness that loans could be had, in many cases prevented them from being needed. The panic quickly subsided. And all the...

Bibliographic information