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Home > Art, Film & Photography > Sound Currency Volume 9-10; A Compendium of Accurate and Timely Information on Currency Questions Intended for Writers, Speakers and Students
Sound Currency Volume 9-10; A Compendium of Accurate and Timely Information on Currency Questions Intended for Writers, Speakers and Students

Sound Currency Volume 9-10; A Compendium of Accurate and Timely Information on Currency Questions Intended for Writers, Speakers and Students


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About the Book

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. 1895 Excerpt: ...the passage of this resolution was immediately felt. Our bonds began to come back from Europe. In one week $10,000,000 of them were thrown upon the market, and the amount sent home was estimated by Mr. Allison to have reached $100,000,000. We had warning fifteen years ago of what haa resulted from the act of 1890. Under the act of 1878 the Treasury never coined more than $2,000,000 worth of silver a month. Sometimes the bullion owners demanded more than the market rates, when Secretary Sherman, interpreting the law as Mr. Carlisle has lately interpreted it, declined to make the purchases. The Government found it almost impossible to force the new silver dollars into circulation. The people would not take them. The Clearing-House in New York declined to receive the certificates in settlement of balances, until they were compelled to do so by an act of Congress which forbade national banks from joining an association covered by such a rule. The Government did its best. It paid the cost of transporting the dollars. It discontinued the issue of legal-tender notes of denominations less than five dollars. It issued one, two and five dollar silver certificates, and finally obtained a circulation for the smaller of these. Fortunately for the country, the surrender of large amounts of national bank currency ait this time made a place for the new silver currency, so that all the evil effects of a silver coinage adopted in the face of the action of the commercial world and in antagonism to it were not felt. Under the act of 1878 the Government purchased 291,392,010 ounces of silver, for which it paid $303,190,262. But out of it the Government issued in coins 378,166,795 silver dollars. The purchases-of the Government did not check the rapid decline in the price of sil...



Product Details
  • ISBN-13: 9781130977905
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 348
  • Spine Width: 18 mm
  • Width: 189 mm
  • ISBN-10: 1130977900
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 621 gr


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Sound Currency Volume 9-10; A Compendium of Accurate and Timely Information on Currency Questions Intended for Writers, Speakers and Students
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