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abundant Adam Smith adopted amount of toil article or quantity authority average bank paper bank system banks of issue bills of credit bonds bullion value cent certificates circulation coinage consumer corn debts demand deposits equal exchange value exported farmer foreign coins fractional silver coins free banking furnish gold coins gold dollar grains of pure greenbacks horse hundred increase inflation interest kind knowledge and skill legal tender less material objects medium of exchange millions of dollars money unit money value National bank notes ounce owner paid paper money payment person political economy possession pound sterling productive laborer quantity of labor quarter eagle ratio redeem sell silver dollar specie standard coins sum of wealth supply things tion toil and trouble tokens Treasury notes unit of value unit of wealth United States notes utility wants wealth value wheat worth
Page 8 - Sale or exchange is a transmutation of property from one man to another, in consideration of some price or recompense in value: for there is no sale without a recompense; there must be quid pro quo.
Page 87 - States, shall be that of the pure metal of such coin of standard value," and that "the value of the standard coins in circulation of the various nations of the world shall be estimated annually by the Director of the Mint, and be proclaimed on the 1st day of January by the Secretary of the Treasury.
Page 85 - ... so base as to be unsuitable for the operations of the mint ; and when gold and silver are combined, if either metal be in such small proportion that it cannot be separated advantageously, no allowance shall be made to the depositor for its value.
Page 131 - Having thus. in the exercise of undisputed constitutional powers, undertaken to provide a currency for the whole country, it cannot be questioned that Congress may constitutionally, secure the benefit of it to the people by appropriate legislation.
Page 115 - coin money and regulate the value of foreign coins," and when they forbade the states to ''coin money, emit bills of credit, make anything but gold and silver a tender in payment of debts," or "pass any law impairing the obligation of contracts.
Page 82 - Thou shalt not have in thy bag divers weights, a great and a small. Thou shalt not have in thine house divers measures, a great and a small. But thou shalt have a perfect and just weight, a perfect and just measure shalt thou have: that thy days may be lengthened in the land which the Lord thy God giveth thee.
Page 65 - Each of these classes, as such, obtains a share of the produce: no other person or class obtains anything, except by concession from them. The remainder of the community is, in fact, supported at their expense, giving, if any equivalent, one consisting of unproductive services. These three classes, therefore, are considered in political economy as making up the whole community.
Page 131 - It cannot be doubted that under the Constitution the power to provide a circulation of coin is given to Congress. And it is settled, by the uniform practice of the Government and by repeated decisions, that Congress may constitutionally authorize the emission of bills of credit.
Page 130 - SEC. 19. —That every person, firm, association, other than national bank associations, and every corporation, state bank, or state banking association shall pay a tax of ten per centum on the amount of their own notes used for circulation and paid out by them.