The United States Magazine And Democratic Review Vol 6 PDF Download

Excerpt from The United States Magazine and Democratic Review, Vol. 6: July, 1839 The clamor which has been recently raised by the Philadelphia school relative to the exportation of silver, resembles that of the wiseacre who flung away the spiggot with which the fluid was confined within the cask, and then rent the neighborhood with lamentations at the loss of the liquor. Silver coin has been of late exported to a considerable extent, because it is no longer needed here for currenc y - and not because it is undervalued with respect to gold - Abe proportion fixed by law being similar to that of those nations where the two metals are most generally used as currency. The expulsion of silver is to be ascribed to the revival of the use of small notes by authority of law in all the States north of Delaware. Should this policy become permanent, thew States will find themselves able to preserve little or no silver currency. Laws, which permit and encourage the circulation of shin-plasters, are entirely equiva lent in their Operation to enactments requiring coin to be sent where it is wanted for currency. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.