National Bank Circulation

Author : Alexander Dana Noyes
Publisher : Forgotten Books
ISBN 13 : 9780265210963
Total Pages : 30 pages
Book Rating : 4.2/5 (19 download)

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Download or read book History of the National-Bank Currency (Classic Reprint) written by Alexander Dana Noyes and published by Forgotten Books. This book was released on 2017-10-12 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from History of the National-Bank Currency It should be noticed, to begin with, that the founders of the present national-bank note system frankly recog nized and avowed other purposes than the simple purpose of establishing a sound and elastic currency. They had in view two special considerations, each of which was of greater immediate importance in 1864 than elasticity in the currency, but neither of which is of vital importance at the present day. The two foremost problems of the Administration in 1864 were, first, to finance the civil war; second, to provide for the future cementing of the union of the States. This explains why, advocating in his report of 1862 a system of bank-note currency secured by government bonds, the Secretary of the Treasury set forth, as the chief advantages of such a system, that the negotiation of bond issues by the Government would be greatly facilitated; that it is not easy to appreciate the full advantages of such conditions to a government obliged to borrow; that it would reconcile, as far as practicable, the interests of existing institutions with those of the whole people; and that it would provide a firm anchorage to the union of the States. 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.