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Updated: June 8, 2025
Eight million seventy thousand eight hundred and seventy-two dollars and forty-six cents was appropriated by the act of March 31, 1898, to cover deficiencies in army pensions, and repayments in the sum of $12,020.33, making a total of $148,082,892.79 available for the payment of pensions during the fiscal year 1898.
He was going to the post office; the money he had from the seven departed guests would be scattered to all quarters of the globe. And yet it was not enough to cover everything in fact not enough for anything, for interest, repayments, taxes, and repairs. It paid only for a few cases of food from the city. And of course he stopped the case of sirup from going back.
For the time, therefore, the importunate demands of the queen for repayments by the States of her disbursements during the past ten years were suspended. It had, indeed, never been more difficult than at that moment for the republic to furnish extraordinary sums of money. The year 1595 had not been prosperous.
"After the treaty, by which France recognized the Haytian Republic, Gobseck was one of the members of the commission appointed to liquidate claims and assess repayments due by Hayti; his special knowledge of old fortunes in San Domingo, and the planters and their heirs and assigns to whom the indemnities were due, had led to his nomination.
The frequency, regularity, and amount of his repayments, would sufficiently demonstrate that the amount of their advances had at no time exceeded that part of his capital which he would otherwise have been obliged to keep by him unemployed, and in ready money, for answering occasional demands; that is, for the purpose of keeping the rest of his capital in constant employment.
I recommend that the Congress authorize the subscription by the Treasury of further capital to the Federal land banks to be retired as provided in the original act, or when funds are available, and that repayments of such capital be treated as a fund available for further subscriptions in the same manner.
When they observed, that within moderate periods of time, the repayments of a particular customer were, upon most occasions, fully equal to the advances which they had made to him, they might be assured that the paper money which they had advanced to him had not, at any time, exceeded the quantity of gold and silver which he would otherwise have been obliged to keep by him for answering occasional demands; and that, consequently, the paper money, which they had circulated by his means, had not at any time exceeded the quantity of gold and silver which would have circulated in the country, had there been no paper money.
For the time, therefore, the importunate demands of the queen for repayments by the States of her disbursements during the past ten years were suspended. It had, indeed, never been more difficult than at that moment for the republic to furnish extraordinary sums of money. The year 1595 had not been prosperous.
It is easy to understand how the partners in the Loan Club made money. Suppose that they advanced ten pounds for three months at five per cent. It is repayable in weekly instalments at ten shillings a week, the repayments commencing the very first week after the advance has been made.
The banking companies of Scotland, accordingly, were for a long time very careful to require frequent and regular repayments from all their customers, and did not care to deal with any person, whatever might be his fortune or credit, who did not make, what they called, frequent and regular operations with them.
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