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Disastrous Financial Panics, Cause and Remedy

Disastrous Financial Panics, Cause and Remedy

137165427
1162.5 руб.
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Excerpt from Disastrous Financial Panics, Cause and Remedy: Benefits From Silver Coinage

The growth of the wealth of our country has been acquired under very varied conditions. At times the people throughout the country, with a gradual increase of the circulation, would make good progress and their wealth increase gradually, then it would be more rapid with expanded credits, when there would be a sudden check owing to the inability of the people, through an unwise financial system, to increase the volume of the circula tion, thus creating a crisis, which, through the checking of the business, caused a stagnation that would in the course of a few years grow into a disastrous financial panic of such magnitude as to most seriously affect the entire interest of the people, and retard the continuous growth of the wealth of our country. There fore, our Government should adopt a just, wise and generous financial system of its own, free from all other interest or alli ance, to enable it through its vast wealth to maintain an adequate and continuous increase of the volume of money required for the welfare of our people, and prevent such further disastrous financial panics as prevailed throughout our country as in 1814, 1837, 1857, 1873 and 1893, each of several years duration, and that of 1907 now prevailing, and most seriously affecting the people - all brought on by the very bad and expensive financial system of our Government and its bad management.

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