ISBN: 9781332325511 - the contraction of the currency (classic reprint): an argument founded on figures and quotations from official reports, and proving that the ... diminished since 1861 (classic reprint) (3 resultados)

PAP. Condición: New. New Book. Shipped from UK. Established seller since 2000.

PAP. Condición: New. New Book. Shipped from UK. Established seller since 2000.

Paperback. Condición: New. Print on Demand. This important, thoroughly referenced study directly refutes the common misconception that there was an enormous contraction of the currency after the Civil War. It is established here unequivocally, by meticulously tracing the history of every item in the public debt between 1860 and 1878, that there was instead a significant increase in the money supply. This study demolishes the oft-repeated claim that the currency was reduced by retiring two billion dollars of temporary loans; the author proves that the temporary loans were not retired at all, but instead were redeemed at maturity and replaced with longer-term bonds. The author further counters each and every argument presented by the proponents of the currency contraction theory, backing up his rebuttals with numerous contemporaneous documents, many of them from officials who had intimate knowledge of the financial circumstances of the time. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.…