Sound Currency Volume 7
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Sound Currency Volume 7

Sound Currency Volume 7


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1900 Excerpt: ...of all other associations, which, of course, put a stop to the latter. This law, as amended by the Act of February 8, 1875, provides: 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. Sec. 20. That every such person, firm, association, corporation. State bank or State banking association, and also every National banking association, shall pay a like tax of ten percentum on the amount of notes of any person, firm, association, other than a national banking association, orof any corporation, State bank, or State banking association, or of any town, city, or municipal corporation, used for circulation and paid out by them. System Secure And Uniform, But Not Elastic. Our national banking system has given us a bank currency which possesses the great merits of being uniform all over the country and as secure as the Government currency in which it is redeemable. The security of the holder of a national bank note is guaranteed by an elaborate system of safeguards, chief among which is the deposit of United States bonds with the Treasurer of the United States. 1 he uniformity of the currency is promoted by this feeling of security and is made more perfect by the fact that the bank notes are receivable by the United States Government and by all the national banks. But the system has failed to secure an elastic currency, which can readily respond to the varying demands of the country for a circulating medium; and the permanent issue of notes secured by United States bonds involves the perpetuation of the National debt. The following table shows that the amount of..


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Product Details
  • ISBN-13: 9781130448344
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 132
  • Spine Width: 7 mm
  • Width: 189 mm
  • ISBN-10: 1130448347
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 249 gr


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