The predictions that were so confidently made of the ruin that would overspread the land, if the charter were not renewed, had their intended effect on some of the democratic members. But, after a full discussion, the bill was indefinitely postponed...
The debt was paid by paper notes from who shillings to ten pounds denomination, which notes were to be received for payment of the tax which was to be levied, and all other payments in the treasury. This was a new...
Few areas in American history have undergone such intensive study in recent years as the Jacksonian era. A major subject of controversy in that period is monetary and banking policy. It began with President Jackson’s successful veto of the bill for...
Many who are inimical to paper money in every other form, are friendly to the use of Bank paper because it is, they say, equal to specie, in as much as specie can be obtained for( it at the will of...
Banknotes are considered by some as “representatives of specie.” But, for every silver dollar they have in their vaults, some of the Banks have two paper dollars in circulation, some three, some five, some eight, and some thirteen. Banknotes cannot represent...
, it is to have notes discounted The evils which are produced by paper money Banking, are so great as necessarily to force themselves on the attention of those who are most deeply interested in the continuance of the system. 1’0...
The objections to the American Banks are tripartite. They are, first, such as arise from their substituting paper money for metallic. Secondly, such as arise from their introducing an unsound system of credit. And: thirdly, such as arise from their nature...
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