The Writings of Benjamin Franklin, Vol. 5
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| Hersteller: | Forgotten Books (Smyth, Albert Henry) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from The Writings of Benjamin Franklin, Vol. 5: Collected and Edited With a Life and Introduction In the Report of the Board of Trade, dated February 9, 1764, the following Reasons are given for restraining the Emission of Paper Bills of Credit in America, as a legal Tender. 1. That it carries the Gold and Silver out of the Province, and so ruins the Country, as Experience has shewn in every Colony, where it has been practised in any great Degree. 2. That the Merchants trading to America have suffered and lost by it. 3. That the Restriction has had a beneficial Effect in New England. 4. That every Medium of Trade should have an intrinsic Value, which Paper Money has not. Gold and Silver are therefore the fittest for this Medium, as they are an Equivalent, which Paper never can be. 5. That Debtors, in the Assemblies, make Paper Money with fraudulent Views. 6. That in the Middle Colonies, where the Credit of the Paper Money has been best supported, the Bills have never kept to the nominal value in circulation, but have constantly depreciated to a certain Degree whenever the Quantity has been increased. 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.
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