Reports of the Secretary of the Treasury of the United States, Prepared in Obedience to the Act of the 10th May, 1800; To Which Are Prefixed the Reports of Alexander Hamilton, on Public Credit, on a National Bank, on Volume 3

Reports of the Secretary of the Treasury of the United States, Prepared in Obedience to the Act of the 10th May, 1800; To Which Are Prefixed the Reports of Alexander Hamilton, on Public Credit, on a National Bank, on Volume 3

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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. 1837 edition. Excerpt: ... earlier think proper to act on it prospectively, nor to authorize any temporary investment of it, be then considered necessary and proper for this department to examine in what cases, and under what circumstances, on what surpluses, and at what rate, interest could equitably be demanded, in addition to the useful duties performed by the selected banks, in behalf of the Treasury. On these points, however, it is hoped that this department will not be understood as recommending that taxes should ever be imposed with a view to permit a large surplus, any more than a deficiency, to occur; but that, when the former unexpectedly and unintentionally happens, an in corns should be realized from it by interest on an investment, until, at the end of every few years, a thorough revision of the tariff would, in the pursuit of this policy, be made, and so graduated as, during the next succeeding term, to be likely to correct any great irregularities, whether excesses or deficiencies, that had happened during the preceding term, aud to lead to the sale and use of any interest or investments which, in the mean time, had accumulated. Those other questions, naturally connected with the present deposite banks, and indeed with our whole existing system of finance, so far as regards the keeping and disbursing of the public money, might here be appropriately considered. Yet, without any desire to avoid, but rathe; from a wish to submit, that full and frank discussion of them which their acknowledged importance and the exciting interest in them demand from the fiscal department of the Government, they will be postponed to a separate supplemental report, which will be confined exclusively to their consideration, and will soon be presented to Congress. It appears to the...show more

Product details

  • Paperback | 244 pages
  • 189 x 246 x 13mm | 440g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236586050
  • 9781236586056