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Greenbacks, Or, the Evils and the Remedy of Using "Promise to Pay to the Bearer on Demand" as a Measure of Value

Greenbacks, Or, the Evils and the Remedy of Using "Promise to Pay to the Bearer on Demand" as a Measure of Value


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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.1864 Excerpt: ... "GREENBACKS;" OB, THE EVILS AND THE REMEDY OF USING Promise to pay to the bearer on demand" AS A MEASURE OF VALUE. The present monetary condition of the people, imposed on their government by a gigantic rebellion, is attracting the attention of thinking men; and they are beginning to inquire, if money, or a measure of value, can be made of paper, without committing or sanctioning a fraud? Who Makes Money? Long ago it was asserted, and it, has since been admitted by eminent writers on finance, that coining money and regulating the value thereof; or in other words, that the making of a measure of value, by which the worth of all things that are bought and sold can be measured, is a prerogative which cannot be safely intrusted to individuals, associations, or corporations, for it is an act of sovereignty. The same class of writers also assume, and assert as an axiom, that no material can be used as a measure of value, which is not of itself, as an article of commerce, of equal value, or nearly so, with that for which it is used as a measure, and for which it may be exchanged, for the use of an article of commerce, as a measure of value, cannot add value to it, because the custom, or law of trade, which governments did not make and cannot unmake, will not permit it. A government stamp is only for convenience; it is evidence of quality and quantity or weight and fineness, nothing more. The above admission, assertion, assumption, and axiom, have received the sanction of custom, and the confirmation of experience; yet there have been some, --there are some now, who doubt their truth, or at least pretend to, and are constantly urging further and new experiments to remove or confirm their doubts, or some other cause. The use of Paper as Money. The use of paper as mon...


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Product Details
  • ISBN-13: 9781154510836
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 20
  • Spine Width: 1 mm
  • Width: 189 mm
  • ISBN-10: 1154510832
  • Publisher Date: 06 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 54 gr


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Greenbacks, Or, the Evils and the Remedy of Using "Promise to Pay to the Bearer on Demand" as a Measure of Value
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