Author : Confederate States Of America
Publisher : Forgotten Books
ISBN 13 : 9780666627544
Total Pages : 22 pages
Book Rating : 4.6/5 (275 download)
Book Synopsis Report of the Minority of the Committee on Finance on the Bill H. R. 379 to Levy Additional Taxes for the Year 1865, for the Support of the Government by : Confederate States Of America
Download or read book Report of the Minority of the Committee on Finance on the Bill H. R. 379 to Levy Additional Taxes for the Year 1865, for the Support of the Government written by Confederate States Of America and published by Forgotten Books. This book was released on 2018-03 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Report of the Minority of the Committee on Finance on the Bill H. R. 379 to Levy Additional Taxes for the Year 1865, for the Support of the Government The measure preposed will protect the holder of the outstanding circulation. If two hundred and titty millions are outstanding, as suming that to be the limit of par talue, and the necessities of the government should require the issue of one hundred and twenty-five millions more, it would operate as a tax upon the outstanding two hundred and fifty millions, of thirty-three and a third per cent., and a loss to the government of one-third of the hundred and twenty-five millions added to the circulation. It will be admitted, that after a circulation reaches the maximum limit of par value, an increase of quantity will not add to or increase the aggregate value: therefore, the three hundred and seventy-five. Millions will be worth no more than the two hundred and fifty millions were worth. The purchasing capacity 'would be the same. In fact, it would not be Worth as much; for experience has proven that after a currency has passed the maximum limit of par value, the depreciation is more rapid than the increase of volume, so that when the latter attains a certain magni tudc, the whole becomes totally worthless. But assuming them to be equal, by requiring one hundred and twenty-five millions to be funded, the holders would be saved a tax, resulting from depreciation, of eighty-three and two-third millions. The government would save forty-one and a third millions, which would result from the same cause; and the people would be protected from the evils of a depre ciated currency. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
