Books for you

However unwilling any of our citizens may heretofore have been to assign
to these causes the chief instrumentality in producing the present state
of things, the developments subsequently made and the actual condition
of other commercial countries must, as it seems to me, dispel all
remaining doubts upon the subject. It has since appeared that evils
similar to those suffered by ourselves have been experienced in Great
Britain, on the Continent, and, indeed, throughout the commercial world,
and that in other countries as well as in our own they have been
uniformly preceded by an undue enlargement of the boundaries of trade,
prompted, as with us, by unprecedented expansions of the systems of
credit. A reference to the amount of banking capital and the issues of
paper credits put in circulation in Great Britain, by banks and in other
ways, during the years 1834, 1835, and 1836 will show an augmentation
of the paper currency there as much disproportioned to the real wants
of trade as in the United States.


Pages:
28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52