A Brief Account of the Finances and Paper Money of the Revolutionary War - Couverture rigide

DLC, Marian S Carson Collection; Schuckers, Jacob William

Couverture rigide

ISBN 10 : 1355881048 ISBN 13 : 9781355881049

Editeur : Palala Press, 2016

Synopsis

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A propos du livre

Présentation de l'éditeur

The Revolutionary Finances, 71745 Massachusetts alone to pay the expenses of her fortunate expedition against Louisbourg, and in other preparations in the war then existing between France and England emitted bills to the amount of between two and three million pounds lawful money. This large increase in the amount of bills in circulation naturally occasioned a greater depreciation, so that in 1748 eleven hundred pounds of these bills were only equal to one hundred pounds sterling. 3. Governor Pownall gives this account of the Pennsylvania system: I will venture to say there never was a wiser or a better measure, never one better calculated to serve tlie uses of an increasing country, that there never was a measure more steadily or more faithfully pursued, for forty years together, than the loan office in Pennsylvania, formed and administered by the Assembly of that province. He gives a sketch of the loan office act passed in the year 1739 which he styles Uhe completest system of the kind, containing all the improvements which experience had from time to time suggested in the execution of the preceding acts. By this act the trustees of the loan office were to lend out the bills on real security of at least double the value for a term of sixteen years, to be repaid in yearly quotas or instalments with interest. Thus one-sixteenth part of the principal was yearly paid back into the office, which made the payments easy to the borrower. The interest was applied to public services; the principal during the Timothy Pilkin :S tatistical View of the Commerce of the United States.
(Typographical errors above are due to OCR software and don't occur in the book.)

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Détails de l'édition

• Éditeur: Palala Press
• Date d'édition: 2016
• Langue: anglais
• ISBN 10: 1355881048
• ISBN 13: 9781355881049
• Reliure: Relié
• Nombre de pages: 146
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible