This historic book may have numerous typos and missing text.
Purchasers can usually download a free scanned copy of the original
book (without typos) from the publisher. Not indexed. Not
illustrated. 1859 edition. Excerpt: ...the exchange committee to
negotiate with the public creditors. Soon after this, the Treasury
announced its intention to pay a portion of them in July. The
president of the bank visited Washington, and made a positive
arrangement with the Government to pay a part on the 1st of
October, and the remainder on the 1st of January; the bank assuming
a quarter's interest on a portion of them. Alter this arrangement
had been made, without the knowledge of the Treasury, of the
Government directors, or even of the board, an agent was despatched
to England to negotiate with the holders of the three per cents, to
the extent of five millions, to postpone the payment for twelve
months, and conditionally for a further term. Was no stipulation
violated? Why, sir, let me put a case to the gentleman from South
Carolina. Suppose he had contracted with his Removed of the
Depotiit. January, 1834. factor at Augusta to receive his moneys
and pay his debts; suppose that, in March, 1832, he had announced
to his factor that he owed a debt of ten thousand dollars, which he
wished him to pay, a part on the 1st of July, and the remainder on
the 1st of October. The factor visits Edgefield, states to him that
he had loaned the money to his customers, and that he should be
obliged to distress them if he withdrew it at so early a period.
He, however, makes an arrangement to pay the amount in October and
January. After this, and without the knowledge of the gentleman
from South Carolina, suppose the factor should go to the holder of
the note, and arrange with him to postpone the payment for twelve
months at three per cent, interest, while he would continue to loan
the money of his employer to his customers at six. Now, suppose the
gentleman from South Carolina should...
|Country of origin:
• United States Congress
||246 x 189 x 40mm (L x W x T)
||Paperback - Trade
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