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The U.S. Democratic Review Volume 2

The U.S. Democratic Review Volume 2


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About the Book

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. 1838 edition. Excerpt: ... operations will not here suflice. By commercial discounts a current is constantly flowing out of the banks, but another current is as constantly flowing in. There can be no such counter currents to aid such of the banks as are indebted to the General Government or to the States. Neither can there be any in aid of such banks as have made loans on accommodation paper to an amount beyond their proper capital. Let not the banks affirm that they have it not in their power to accomplish this object. Some of them can raise the necessary funds by sales of stock and real estate. Such of them as have not completed their capital may call in additional instalments, requiring payment not in stock notes, but in bankable funds. Some of them can negotiate loans in Europe, and some in America. Others may diminish the amount of their immediate liabilities by allowing interest on deposites left with them for three months and upwards. They may all strengthen themselves by reducing the rate of their dividends. And, lastly, the creditor banks can, for a suitable compensation, grant libcral indulgences to the debtor banks. None of these propositions will be very acceptable to those to whom they are addressed, because they all go to diminish their immediate profits. But when the whole community is suffering, the banks must expect to suffer also. Any bank which is not prepared to make the necessary sacrifices for resuming and sustaining specie payments, ought at once to take measures for gradually winding up its concerns. Perhaps it would be best for them and for the nation also, if one-third of the whole number should take this resolution. The present number is greater than can possibly be sustained by theprofits of fair banking. The principle by which a...


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Product Details
  • ISBN-13: 9781234234317
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 198
  • Spine Width: 11 mm
  • Width: 189 mm
  • ISBN-10: 1234234319
  • Publisher Date: 05 May 2014
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 363 gr


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