Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: June 22, 2025
The Liberals, the traditional upholders of freer trade, after some initial redemptions of their pledges, had compromised with the manufacturing interests. The Conservatives, still more protectionist in temper, voiced in Parliament little criticism of this policy, and the free trade elements among the farmers were as yet unorganized and inarticulate.
Redemptions of savings bonds also have been running high in recent months and are expected to remain large for some time. The issuance of savings bonds will be continued. These bonds represent a convenient method of investment for small savers, and also an anti-inflationary method of refinancing.
On the other hand the Treasurer would be entitled to credit for redemptions made days or weeks before the evidence of such payments would appear on the register's books. An analogous fact exists in the discrepancy between a depositor's account with his bank and the account at the bank as long as there are outstanding checks. The books would not agree and yet each might be accurate.
Within this time there were several occasions when it was necessary for the Treasury Department to come to the relief of the money market by purchases or redemptions of United States bonds; by increasing deposits in national banks; by stimulating additional issues of national bank notes, and by facilitating importations from abroad of gold.
Such persons may now deem themselves wise; but ere long they will be sensible they were fools. It you consider what a valuable price was paid for our redemptions you must be convinced that the soul of man is very precious in the sight of God, and that sin is not so light and small an evil, as many of you have supposed.
Redemptions of savings bonds also have been running high in recent months and are expected to remain large for some time. The issuance of savings bonds will be continued. These bonds represent a convenient method of investment for small savers, and also an anti-inflationary method of refinancing.
We surely cannot be longer heedless of the burden this imposes upon the people, even under fairly prosperous conditions, while the past four years have demonstrated that it is not only an expensive charge upon the Government, but a dangerous menace to the National credit. It is manifest that we must devise some plan to protect the Government against bond issues for repeated redemptions.
But to these were added a revenue drawn from the old Crown domain, now largely increased by the confiscations of the Conquest, the ever-growing income from the judicial "fines" imposed by the King's judges in the King's courts, and the fees and redemptions paid to the Crown on the grant or renewal of every privilege or charter.
Hitherto, alas! humanity has never dared face these hard facts. We frantically scatter conscience money and invent systems of conscience banking, with expiatory penalties, atonements, redemptions, salvations, hospital subscription lists and what not, to enable us to contract-out of the moral code.
Daily these scenes are re-enacted, not in songs and dramas, but through the work of those who rescue the city's children from squalor, filth and sin. What redemptions' man's little deeds do bring! For $30,000 Peter Faneuil bought immortality and forever associated his name with liberty.
Word Of The Day
Others Looking