The Loan Office Experiment in Missouri, 1821-1836 (Classic Reprint)

The Loan Office Experiment in Missouri, 1821-1836 (Classic Reprint)

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Excerpt from The Loan Office Experiment in Missouri, 1821-1836
The revenue of the territory and early commonwealth of Missouri seldom met current expenses; there was frequently, as we have seen, a considerable floating debt. Little attention was paid to this, however, and the only legislative acts of the territorial government that might have created a debt were: (1) That of 1813, creating the Bank of St. Louis, in which the territory of Missouri might hold of the of stock; (2) and that of 1817, establishing the Bank of Missouri, in which the territory might in ten years subscribe of the of capital stock.20 It is a remarkable fact, considering the highly speculative spirit of the times, that the territory took no stock in either of these banks - although both were exceptionally well managed for common wealth institutions.
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Product details

  • Paperback | 24 pages
  • 152 x 229 x 1mm | 45g
  • Forgotten Books
  • United States
  • English
  • , black & white illustrations
  • 0243086199
  • 9780243086191