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The Christian Review (Volume 16)

The Christian Review (Volume 16)


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About the Book

Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: fin! cities, and the profits which they make will show whether or not the rate of interest is unreasonably high. These and many other thoughts passed through our mind in reading the work before us, and we merely suggest them for those who may be induced by our remarks to follow us in its perusal. Our idea about interest is, that it is quite as frequently the case that seven per cent, is paid by those who might borrow money for a lower rate, merely because it is the interest allowed by law, as that a higher rate is paid by speculators and persons suffering from the weight of their liabilities. The safest plan, however, particularly for those who do not live in the arena of speculation, is to practise economy and keep free from debt. The author proposes as a remedy, that a national institution be established which shall substitute for a gold and silver currency, paper money to be loaned to borrowers at a low rate of interest, (one and one tenth per cent, is suggested, ) which shall be fully secured by mortgages; and to this he adds thnt the money may be funded at any time in notes bearing one per cent, interest. He argues, that on this basis nil may obtain loans at an easy rate; that money will be furnished in quantities just sufficient to supply the wants of the people, and no more; thnt expansions and contractions in the amount of money, and fluctuations in the rate of interest, will not occur; and that finally the laboring classes will save the difference between the high and low rates of interest, so that a more equal distribution of wealth will be the result, and consequently individual independence, intelligence, and virtue be established. . We must leave to our readers to study the plan for themselves. We do not feel inclined to express an opinion on this part of the wo...


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Product Details
  • ISBN-13: 9781458869470
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 286
  • Spine Width: 15 mm
  • Width: 189 mm
  • ISBN-10: 1458869474
  • Publisher Date: 01 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 513 gr


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