...their circulation below a par value. Whatever this depreciation may be, it is a loss to the people, and a gain to the banks. Bank paper can never be at...it will be valued and sought only when there is a certianty of its redemption. The ultimate responsibility of the bank issuing it, will not give it sufficient...

...their circulation below a par value. Whatever this depreciation may be, it is a loss to the people, and a gain to the banks. Bank paper can never be at...it will be valued and sought only when there is a certianty of its redemption. The ultimate responsibility of the bank issuing it, will not give it sufficient...

...by the government, is the only safe standard of money ; and that no form of credit currency is safe unless it be convertible into coin at the will of the holder. As preliminary to this discussion, it is necessary to determine the functions which money performs...

...their circulation below a par value. Whatever this depreciation may be, it is a loss to the people, and a gain to the banks. Bank paper can never be at...legislation to give value to that which possesses none. l?eing but evidence of indebtedness, it will be valued and sought only when there is a certainty of...

...by the government, is the only safe standard of money ; and that no form of credit-currency is safe unless it be convertible into coin at the will of the holder. MONEY AS AN INSTRUMENT OP EXCHANGE. As preliminary to this discussion, it is necessary to determine...