Money Inflation in the United States; A Study in Social Pathology Volume 3

Money Inflation in the United States; A Study in Social Pathology Volume 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1905 edition. Excerpt: ...two former utterances and commended the subject "to the investigation of an enlightened people and their representatives. " The officers of the Bank at last applied for a renewal of the charter, with some changes, and the friends of the Bank in Congress played into the hands of the President by passing a bill for that purpose in the summer of I832, when the campaign for his re-election was already on. The veto message which followed is remarkable for the writer's disregard, or want of knowledge, of the real needs and dangers of the country, as well as for its great strength as a campaign document. The message begins by the information that "the bill was presented to me on the 4th of July instant. Having considered it with that solemn regard for the principles of the Constitution which the day was calculated to inspire, and come to the conclusion that it ought not to become a law, I herewith return it... with my objections." Summing his objections to the then existing Bank as "unauthorized by the Constitution, ' subversive of the rights of the States, and dangerous to the liberties of the people," he reminds Congress that he had already expressed his opinion as to what the institution ought to be, and regrets that in the act before him he could see "none of those modifications of the Bank charter which are necessary to make it compatible with justice, with sound policy, or with the Constitution." The act he finds creates a monopoly, confers gratuitously valuable privileges, not only on a few citizens--"chiefly of the richest class,"--but even on foreigners. After showing why the opinion of the Supreme Court should have no weight in respect to his course, he closes his...
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Product details

  • Paperback | 62 pages
  • 189 x 246 x 3mm | 127g
  • English
  • Illustrations, black and white
  • 1236872258
  • 9781236872258