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Its effects upon the solvent State banks, while it would force into liquidation those of an opposite character through its weekly settlements, would be highly beneficial; and with the advantages of a sound currency the restoration of confidence and credit would follow with a numerous train of blessings.
That the bare suspicion even of such crimes should have originated and gained currency in more than one district of Australia, is of itself a fearful indication of the feeling among the lowest classes in the colonies, and of the harrowing deeds to which that might lead.
If less than this was paid, the real exchange might be in favour of England, while the computed was in favour of France. Thirdly, and lastly, In some places, as at Amsterdam, Hamburg, Venice, etc. foreign bills of exchange are paid in what they call bank money; while in others, as at London, Lisbon, Antwerp, Leghorn, etc. they are paid in the common currency of the country.
The Commissioners of Customs and of Internal Revenue have charge respectively of the collection of customs duties and internal revenue taxes. The Comptroller of the Currency has control of the national banks. The Chief of the Bureau of Statistics collects and publishes the statistics of our foreign commerce.
It is vinegar to the eyes to deal with men of loose and imperfect perception. Dr. Johnson is reported to have said, "If the child says he looked out of this window, when he looked out of that, whip him." Our American character is marked by a more than average delight in accurate perception, which is shown by the currency of the by-word, "No mistake."
More than this, the all absorbing subject in all the West India papers at the present moment is that of the currency. Why such anxiety to provide the means of paying for labor which is to become valueless? Why such keenness for a good circulating medium if they are to have nothing to sell?
It stimulates improved processes in manufacturing and mining, and protects business against foreign competition by a tariff wall; it tries to prevent recurring seasons of financial panics by a stable currency and the extension of credits.
At first the thought of the great stake for which she was playing in terms of currency, with the head of Jim's father on every note, was much with her. The amazing nature of the offer of five millions of dollars stimulated her imagination, roused her; gold coins are counters in the game of success, signs and tokens.
It was this sentiment which gave strength to the majority in the House of Representatives, which was opposed to any contraction of the greenback currency and in favor of the free coinage of silver, and of making it likewise a full legal tender. Most of these members of Congress were sincere, and thought that they were asking no more than justice for the trader, the manufacturer, and the laborer.
Some writers vehemently objected to the proposition that the public should bear the expense of restoring the currency; some urged the government to take this opportunity of assimilating the money of England to the money of neighbouring nations; one projector was for coining guilders; another for coining dollars. Within the walls of Parliament the debates continued during several anxious days.
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