ISBN: 9781153859325

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1848. Not illustrat… More...

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1848. Not illustrated. Excerpt: ... nevolence. Our country first! our country last! whose foundation is only laid sure, whose prosperity is only secured, when the minds of the children of the hovel and of the alley shall have been illumined with the sun of intelligence, and their hearts been unfolded to the charms of goodness; when, instead of the brier, the myrtle tree shall spring up and diffuse its fragrance. BANK CIRCULATION. The use of promissory notes, issued by corporate companies, and payable on demand, as money, has been carried to a far greater excess in the United States than in any other country of the world--with the exception of Scotland; and experience has developed the manifold evils with which the system is fraught, as hitherto conducted. These evils seem to flow from a misunderstanding of the nature of money, and of the degree of influence which it exerts upon the industry and wealth of a nation. Money of itself, whether it be gold and silver, or their substitute, bank paper, is instrumental in the transaction of a very small proportion of the whole business of a nation. Almost the entire business of any commercial country may be said to be transacted through the operation of individual bills of exchange, each one of which represents a specific commodity, the delivery of which fulfils the obligation of the bill, and completes the transaction without the use of money at all. As thus, in the year 1846, the United States exported $109,583,244 worth of goods and produce to other countries. For this no money was paid, but individual bills followed each separate shipment, requiring on the face payment of money. Instead of money being paid, however, the demands of the bill were satisfied by the delivery of goods, which, to the amount of SI 17,934,065 invoice valuation, were imported int... Thomas Prentice Kettell, Books, History, The United States Democratic Review (volume 22) Books>History The book has no illustrations or index. It may have numerous typos or missing text. However, purchasers can download a free scanned copy of the original rare book from the publisher's website (GeneralBooksClub.com). You can also preview excerpts of the book there. Purchasers are also entitled to a free trial membership in the General Books Club where they can select from more than a million books without charge. Volume: 22; Original Publisher: Langtree and O'Sullivan; Publication date: 1848; Description: Vols. 1-3, 5-8 contain the political and literary portions; v. 4 the historical register department, of the numbers published from Oct. 1837 to Dec. 1840.; Subjects: United States;<