Speech Of Mr John Davis Of Massachusetts On The Sub Treasury Bill

Author : Mr Davis
Publisher : Forgotten Books
ISBN 13 : 9780656352623
Total Pages : 20 pages
Book Rating : 4.3/5 (526 download)

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Download or read book Speech of Mr. Davis of Massachusetts on the Sub-Treasury Bill in the Senate of the United States, January 23, 1840 (Classic Reprint) written by Mr Davis and published by Forgotten Books. This book was released on 2018-02-11 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Speech of Mr. Davis of Massachusetts on the Sub-Treasury Bill in the Senate of the United States, January 23, 1840 Gentlemen may tax their ingenuity, they may task their inven tions, to discover other causes of distress - they may belabor and hold up to scorn and execration the banks as long as they please - they cannot change the facts, for they cannot obliterate history. Things were well, and every body knows it, till 1833. Then began the bank reform by the removal of the deposites - and then began this rapid series of expansion, contraction and explosion-then follow ed crisis after crisis - then came the derangement of the exchanges, and the embarrassments which have overwhelmed the country - then came, too, the nine hundred banks of which the Senator speaks, though he has probably swelled the number beyond historical truth. The Senator admits, what cannot be denied, that the Administra tion proposed and carried into effect the State bank deposite system. It was in this place and by them that State banks were taken into favor, petted, and boastingly held out to the country as affording a better and safer currency. Into them was the revenue put in enor mous sums, and they were directed to loan freely upon it by the President for the accommodation of the people, and it was his pride and pleasure to make known to us that the public money was thus employed, instead of being locked up; a striking commentary upon the present plan of vaults and safes, Mr. President. 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.