Organization of Debt into CURRENCY
Organization of Debt into CURRENCY
and OTHER PAPERS
CHARLES HOLT CARROLL
Edited with an Introduction
by
EDWARD C. SIMMONS
D. VAN NOSTRAND COMPANY, INC.
PRINCETON, NEW JERSEY
Toronto New York London
Copyright
D. VAN NOSTRAND COMPANY, INC.
120 Alexander St., Princeton, New Jersey (Principal office)
24 West 40 Street, New York 18, New York
D. VAN NOSTRAND COMPANY (Canada) LTD.
358, Kensington High Street, London, W.14, England
D. VAN NOSTRAND COMPANY, LTD.
25 Hollinger Road, Toronto 16, Canada
Copyright, © 1964 by
WILLIAM VOLKER FUND
———
Introduction by Edward C. Simmons
Little is known of Charles Holt Carroll (1799-1890), the author of the thirty-six essays reprinted in this book. In the list of contributors in Hunt’s Merchants’ Magazine, where many of these essays appeared, Carroll is described as “A Merchant of Massachusetts.” There are, of course, such scattered bits of information in business directories and newspapers as may be found for many nineteenth-century businessmen, but even when these are combined with the remarks he drops about himself in his essays, only a shadowy figure of a man emerges.
Notes
1. The Currency and the Tariff
FREEMAN HUNT, Esq., Editor of the Merchants’ Magazine, etc.:—
2. The Gold of California and Paper Money
FREEMAN HUNT, Esq., Editor of the Merchants’ Magazine, etc:—
3. Change of the Banking Principle
MR. EDITOR:
4. Money and Banking
In the discussions relating to the currency that commonly arise among businessmen who have not paid any particular attention to the science of political economy, the prominent idea advanced in favor of paper money, and bankers’ credits, called “deposits,” and used as money, is that there is a great addition to the currency and t
5. The Export of Gold
A notion extensively prevails in this country, that gold specie moves from place to place only to settle balances of account, and that the “balance of trade” is always against the country that parts with its gold, and in favor of that which receives it.
6. Specie Prices and Results
Most persons, if asked what would be the effect upon prices, of a return to an exclusively metallic currency in this country, would say that they would fall enormously, perhaps seventy-five per cent or more; at least, this is the opinion commonly expressed by casual thinkers on the subject.
