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Updated: May 8, 2025
As an example on the credit side of her governing is the very complete and successful system of land-banks, introduced by Frederick the Great and since modelled somewhat upon the French methods, which have protected the farmer from usury, insured him money at low rates for improvements, for the purchase of tools, cattle, and fertilizers, and enabled him to do, by sensible co-operation, what would have been impossible for him as an individual.
Why, here were old provincial bills of credit and treasury notes and bills of land-banks, and all other bubbles of the sort, from the first issue above a century and a half ago down nearly to the Revolution. Bills of a thousand pounds were intermixed with parchment pennies, and worth no more than they. "And this, then, is old Peter Goldthwaite's treasure!" said John Brown.
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