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The Labour Question, Thoughts on Paper Currency and Lending on Interest

The Labour Question, Thoughts on Paper Currency and Lending on Interest


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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.1872 Excerpt: ....9. Concluding Remarks. "all honest people, if they were intelligent, would vote for the abolition of bank currency as well as the credit system, and all other modes of unduly increasing money. The system is so general, so extensive, that it vitiates the whole volume of trade and commerce; and, however prudent, no individual can thoroughly protect himself from its costly and evil influence. When we take into consideration the greater expense of doing business, the immense amount of interest-money paid to the banks, and their immense profits; the frauds, the bankruptcies, the vice, the crimes, the general imprudence and demoralization which the system engenders among the people, the monetary panics, the losses from the involuntary idleness of the people, at intervals of longer or shorter duration, according to the extent of the derangement of commerce, &c.; and when we remember that those who pay, pay for the whole of this waste and loss, verily we cannot help repeating that were the people honest and intelligent, they would vote to abolish the whole system."--R. Sulky. "The idea that a national debt can be anything else than a burden, a mortgage upon the property and industry of the people, is fortunately not an American idea. No such fallacy will ever be countenanced by the free and intelligent people of the United States."--Mr. McCulloch, late Secretary 0/ the United States Treasury. Although these words of Mr. McCulloch, in the circumstances in whieh they were uttered, may appear like a sarcasm upon the public financial policy of the United States, yet they convey a warning and a lesson to all rulers. It would indeed be a great blessing to our people and to our children, were what is called public credit so thoroughly and completely destroyed, that ou...


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Product Details
  • ISBN-13: 9781150948633
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 70
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 1150948639
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 141 gr


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