United States or Heard Island and McDonald Islands ? Vote for the TOP Country of the Week !
It had been falsely reported to the Emperor by his ministers that besides the 40,000 dollars which I refused to give up specie to a large amount was secreted on board the Pedro Primiero, and it was suggested to His Majesty, that, as I was living on shore, it would be easy to search the ship in my absence whereby the Emperor could possess himself of all the money found.
In the year 1848 the specie was equal within a very small fraction to one dollar in five of their circulation and deposits; in 1857 it is not equal to one dollar in seven and a half of their circulation and deposits. From this statement it is easy to account for our financial history for the last forty years.
Europe and the Orient, even Arabia and Turkestan, have royal ways of travelling compared to Africa. Specie is received in all those countries, by which a traveller may carry his means about with him on his own person.
"Did I not tell you? browner and more impudent; but tell me," said she, resuming her sly, satirical tone, "how is it that you, who used to be the pink of courtesy, dance and sing over the wreck of my fortunes?" "Because they are not wrecked." "I thought I told you my specie is gone down in the Tisbe." Ipsden. "But the Tisbe has not gone down." Lady Barb. "I tell you it is." Ipsden.
This dispatch caused a great uproar and excitement in Charleston. The banks at once suspended specie payments. All was terror and confusion, for it was expected that a fleet would bombard the city and land troops, and there were no adequate means of opposing its entrance.
Let us, Sir, anticipate, in imagination, the accomplishment of this grand experiment. Let us suppose that, at this moment, all bank paper were out of existence, and the country full of specie. Where, Sir, should we put it, and what should we do with it? Should we ship it, by cargoes, every day, from New York to New Orleans, and from New Orleans back to New York?
Cashier going up north with specie, you understand." It was all plain enough, and disgustingly logical. To intrude upon the presence of a body was perfectly impossible; to try and force the hand of the bank cashier equally out of the question. As head of a great financial house, the Minister knew that. A platform inspector bustled along presently, with his hand to his gold-laced cap.
To China and the East Indies our commerce continues in its usual extent, and with increased facilities which the credit and capital of our merchants afford by substituting bills for payments in specie.
It is no more than just to the banks to say that in the late emergency most of them firmly resisted the strongest temptations to extend their paper issues when apparently sustained in a suspension of specie payments by public opinion, even though in some cases invited by legislative enactments.
But the whole resultant unity is less the product of great personalities than of a common instinct and a common conviction. Men saw the world sub specie unitatis; and its kaleidoscopic variety was insensibly focused into a single scheme under the stress of their vision. The heavens showed forth the glory of God, and the firmament declared His handiwork.
Word Of The Day