The Curse Of Paper Money And Banking A Short History Of Banking In The United States Of America 1833

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This Is A New Release Of The Original 1833 Edition.

This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book. ++++ The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to ensure edition identification: ++++ The Curse Of Paper-money And Banking: Or A Short History Of Banking In The United States Of America, With An Account Of Its Ruinous Effects William M. Gouge William Cobbett Printed by Mills, Jowett, & Mills, 1833 Banks and banking; Paper money

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1833 edition. Excerpt: ... AN INQUIRY INTO THE PRINCIPLES OF THE AMERICAN BANKING SYSTEM. CHAPTER I. Importance of the Subject. In an address to the stockholders of the United States Bank, at their meeting in 1828, Mr. N. Biddle, the President of that institution, stated, that, of five hundred and forty-four Banks in the United States, one hundred and forty-four had been openly declared bankrupt, and about fifty more had suspended business. Mr. Gallatin, in his "Considerations on the Currency and Banking System," published in 1831, gives a list of 329 State Banks then in operation, having nominal capitals of the amount of $108,301,898, which, added to the capital of the United States Bank, made the whole nominal capital of these institutions, upwards of one hundred and forty-three millions of dollars. These Banks issue notes which serve as substitutes for coin. They grant credits on their books, and transfer the amount of credit from one merchant to another. *. They receive money on deposit. They buy and sell bills of exchange. They discount mercantile notes. They buy and sell public stocks. All these are important functions, and if only one of them be ill performed, the community must suffer inconvenience. The Banks are scattered through nearly all the States and Territories which compose our Union; but they may all be embraced in one view, inasmuch as they all substitute paper for specie, and credit for cash, and are all endowed with privileges which individuals do not possess. By their various operations, immediate and remote, they must affect, for good or for evil, every individual in the country. Banking is not a local, temporary, or occasional cause. It is general and permanent. Like the atmosphere, it presses every where. Its effects are felt alike in the...

An exposition on the principles of banking with a full account of incidents in the history of American banking.

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1833 edition. Excerpt: ... 6. Resolved, That it becomes the duty of the General Government, and of every individual State composing itr (gradually, if necessary, but ultimately and certainly, ) to. abolish all Banks and moneyed monopolies, and if a paper medium is necessary, to substitute the impartial and disinterested medium of the credit of the nation or of the. States" We know not if these resolutions were adopted. CHAP. VIII. Of Banking from 1818-19 to 1819-20. A committee of Congress, which had been appointed on. the 30th of November, 1818, to investigate the affairs of the United States Bank, arrived in Philadelpha on the 6th of December, aud left it on the