A Plan for Resuming Specie Payments without Changing the Volume of the Currency

Wraps. Covers show some general soiling; penciling on front and back. Damstaining to upper corner of pages. pp. 32. Rare. [Sabin 63272]. A proposal, dated 1 December 1873, for changes to banking laws, suggesting the complete withdrawal of the National Bank Notes, the prohibition of banks from paying interest on deposits, the strict enforcement of forbidding certification of checks unless the amount be on deposit, and the resumption of specie payments. Brings into discussion both the national debt and state debts, the depression and the Panic of 1873. This short volume is introduced with open letter by the anonymous author ''X'' in New York, addressed to the Assistant Treasurer of the United States, Thomas Hillhouse. Contents: - Necessity of a Common Unit of Value. - Currency Now in Use. - Operations of the System. - Amount of Actual Currency. - Demands of the Currency. - Banking System. - Separation of Issue and Discount. - All Notes of Equal Value. - Legal Reserves. - Amendments to the Banking System. - Reasons for the Amendments. - Balance of Trade.…