The predictions that were so confidently made of the ruin that would overspread the land, if the charter were not renewed, had their intended effect on some of the democratic members. But, after a full discussion, the bill was indefinitely postponed...
” Let the Americans,” said Wm. Pitt, ” adopt their funding system, and go into their Banking institutions, and their boasted independence will be a mere phantom.” No small number of Americans were of a similar opinion: but it was contended...
It is a common opinion that the Bank of North America rendered essential service during our revolutionary struggle that, without it, the achievement of independence would have been difficult, if not impossible. Assertions to this effect have been made with so...
An account taken from the books of merchants in Virginia shows that the depreciation there regularly fol!owed that in Philadelphia, though, towards the close, it sometimes Jagged a month or more behind. Thus, when exchange was at Philadelphia at 100 for...
The debt was paid by paper notes from who shillings to ten pounds denomination, which notes were to be received for payment of the tax which was to be levied, and all other payments in the treasury. This was a new...
The credit bills of Pennsylvania were so much better than those of the other Governments, that there was a demand for them throughout the country as bills of exchange: but it was not a fact that they never’ sunk below the...
In Pennsylvania, as well as in the other colonies, a considerable traffic was carried on by barter: and we recollect having read in the Minutes of Assembly, that, about the year 1700, a proposition was made to make domestic products a...
The first settlers of a country may be greatly in want of capital, but they do not need a great sum of money as a medium of domestic trade. A few exchanges of products for gold and silver coin, will regulate...
Few areas in American history have undergone such intensive study in recent years as the Jacksonian era. A major subject of controversy in that period is monetary and banking policy. It began with President Jackson’s successful veto of the bill for...
Many who are inimical to paper money in every other form, are friendly to the use of Bank paper because it is, they say, equal to specie, in as much as specie can be obtained for( it at the will of...
Banknotes are considered by some as “representatives of specie.” But, for every silver dollar they have in their vaults, some of the Banks have two paper dollars in circulation, some three, some five, some eight, and some thirteen. Banknotes cannot represent...
, it is to have notes discounted The evils which are produced by paper money Banking, are so great as necessarily to force themselves on the attention of those who are most deeply interested in the continuance of the system. 1’0...
The objections to the American Banks are tripartite. They are, first, such as arise from their substituting paper money for metallic. Secondly, such as arise from their introducing an unsound system of credit. And: thirdly, such as arise from their nature...
Against corporations of every kind, the objection may be brought, that whatever power is given to them, is so much taken from either the Government or the people. As the object of charters is to give to members of companies powers...
In a rising country, sound credit is of equal importance with a sound currency. Through its operation, the advantages of capital are more equally diffused than would otherwise be possible. The man who has more capital than he wishes to employ...
Making adjustments to positions goes hand in hand with risk management. In the previous chapter, we saw how to adjust a winning position based on changing circumstances. Sometimes, however, we are forced to adjust losing trades. This can mean exiting a...
During a bull market, the stock market is buzzing with activity. The investment public is actively buying and selling shares and trading volume increases. For example, in March 2000, technology stocks were on fire; on the NASDAQ Stock Market, average trading...
The rise of prices that follows an expansion of Bank medium, and the fall that follows a contraction, do not affect all descriptions of labor and commodities, at the same time, in an equal degree. The usual effect of an increase...
Our American Banks are not contented with the profits derived from lending the money of depositors to other people. As soon as the first instalmel1t of the capital is paid in, the Bank commences issuing notes. To those who come to...
TECHNICAL ANALYSIS This book is about technical analysis. Moreover, it is about one particular type of technical analysis. You will not see anything about earnings, or dividends or cash flows. Nowhere will we mention management or products or competition or sales....
Let us suppose that all the Banks in the country were destroyed and that our circulating medium consisted exclusively of gold and silver coin. In such a state of affairs, every merchant would keep about his person, or in his house,...
It is not necessary for carrying on business honestly, to introduce gold or silver money into every transaction, After we have measured a scantling by a foot rule, we may use that scantling to measure another and that again to...
The “grave, enlightened, and patriotic Senators,” to whom Mr. White alludes, are those who, with Mr. Smith, at their head, made a report, in the year 1830, in which they represented certain kinds of Bank paper as being as good...
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