Congressional Edition Volume 1739

Congressional Edition Volume 1739

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1877 edition. Excerpt: would not be inequitable to pay it. Q. 58. Then would it not be legal and equitable, according to your answers, for the United States to issue silver dollars of 412J grains, with unlimited legal-tender functions?--A. Yes; but, as I have said before, I do not think it would be just for the government to make a dollar of 412i grains an unlimited legal tender, for the reasons I have given. Q. 59. Do you mean that it would not be just to pay in silver becanse tho silver bad fallen relatively to gold after the debt bad been incurred?--A. I mean it is the duty of the government, in providing currency, to make it uniform; not to provide for any variety of circumstances and canses, and hence, when they propose to make a dollar, they can make it at 4124 grains, which is probably worth in the markets of the world about 90 cents; but when it comes to the question of ethics in such an act, compelling a man to take a silver dollar, they ought not to make a dollar below its value in the markets of the world when compared with gold; the proportion ought to be 10 or 17 to 1, whatever the relative value is. But I think government made a great mistake in demonetizing silver. Q. 00. Then if gold bad fallen relatively to silver as much as you. think silver has fallen relatively to gold, would it be the duty of the government to increase the gold dollar to make it equal to the silver dollar?--A. No, sir; I think not. Q. 01. Why not?--A. I think the trade of the country regulates that. Q. 02. But you say the silver dollar ought to be raised to be equal to the gold dollar?--Yes, for this reason; we have no silver dollar now at all; we are beginning de novo. Q. 03. The silver dollar was banished by the act of 1873. It is proposed now to restore it, and the question...
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Product details

  • Paperback | 320 pages
  • 189 x 246 x 17mm | 572g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236524586
  • 9781236524584