| A New Banking System Contributor(s): Spooner, Lysander (Author) |
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ISBN: ISBN-13: 9798673812280 Publisher: Independently Published OUR PRICE: $9.89 Product Type: Paperback - Other Formats Published: August 2020 * Not available - Not in print at this time * |
| Additional Information |
| BISAC Categories: - Business & Economics - History |
| Physical Information: 0.12" H x 5.98" W x 9.02" (0.2 lbs) 52 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Book Excerptittle of it can ever be issued, or kept in circulation; and that little will be so irregular and inconstant in amount as to cause continual and irremediable derangements. But if a paper currency, instead of promising to pay specie on demand, promises only an alternative redemption, viz: specie on demand, or specie with interest from the time of demand, or other merchantable property of equal market value with specie--it can then be issued to an amount equal to such property; and yet keep its promises to the letter. It can, therefore, furnish all the credit and currency that can be needed; or at least many times more than the so called specie paying system ever did, or ever can, furnish. And then the interest, industry and trade of a nation will never be disturbed by the exportation of specie. And yet the standard of value will always be maintained.The difference between the system here proposed, and the so called specie paying system--in respect to their respective capacities for furnishing c |