Title: Remarks on Currency and Banking: Having Reference to the Present Derangement of the Circulating Medium in the United States (Classic Reprint)
Publisher: Forgotten Books
Publication Date: 2018
Language: English
ISBN 10: 065612721X
ISBN 13: 9780656127214
Binding: HRD
Condition: New
Weight: 299 grams

About this title

Synopsis

Excerpt from Remarks on Currency and Banking: Having Reference to the Present Derangement of the Circulating Medium in the United States

The laws of the United States establish the coinage and currency of both metals. By the law Of 1792, gold was estimated to be worth fifteen times its weight in silver, which was, at that time perhaps, an accurate estimate of the actual relative value of the two metals. Since that period a decided and permanent change has taken place in that respect in favor of gold; and by the law passed in 1834, our gold coinage and several foreign coins are made current in the proportion of six teen times their weight of silver.

The effect of this law is, to make an important change in our metallic currency. Previous to its passage, our whole currency consisted of silver; gold was merely merchandise, worth about five or six per cent. Above its legal valuation. Since 1834, gold has been constantly displacing silver, and is becoming the basis of our bank circulation.

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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.

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