Publications of National Monetary Commission Volume 21, Nos. 1-3

Publications of National Monetary Commission Volume 21, Nos. 1-3

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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. 1910 edition. Excerpt: ...must examine the possible solutions of the problem which were called to his attention and we must fairly consider the various plans and schemes for relief which were submitted to him, whether in the light of later experience these rejected propositions seem reasonable or not. We must also give due credit to the opinions of those who aided in bringing into shape the bill which was submitted to Congress, nor mu we neglect the motives which influenced those who contributed toward securing the passage of the banking legislation which was finally effected, whether their efforts were put forth within or without that body. A review of the conditions of the times, the needs of the Government and the personal influences brought to bear upon the Secretary of the Treasury during the years 1861 and 1862 will put us severally in position to determine whether we shall conclude that the adoption of a banking system similar to the one then in vogue in the State of New York was to be credited to the suggestion of any one person, or to the resultant pressure of circumstances guided and controlled by a strong will. We must, of course, take into account the rapidly changing financial condition of the country while the bill was under consideration, and it may appear that motives predominant at one stage of afiairs necessarily became of less importance at a later period. If such should prove to be the case, it will help to explain why different writers have with apparent good reasons reached different conclusions as to the prevailing motive for the adoption of the national banking system. If we follow the matter to the passage of the banking act in 1864, when the system assumed the form which it has practically preserved until the present time, we shall...show more

Product details

  • Paperback | 200 pages
  • 189 x 246 x 11mm | 367g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236953770
  • 9781236953773