Organization of Debt Into Currency and Other Papers
Index
Prepared by Vernelia A. Crawford
NOTE: This index includes titles of chapters listed under the appropriate subject classification. With the exception of these specific page references, which are hyphenated, the numbers in each instance refer to the first page of a discussion. A page number followed by a letter (n) in parentheses indicates the number of a footnote reference.
Abundance, 68
Accommodations, 24, 105, 210, 219, 245, 357; see also Kiting
Adams, John, xxii (11), 405
Agriculture, 173, 314, 385, 387
America, Bank of, 161
Amsterdam, Bank of, 99, 135
Anti-bullionists, 118, 121, 211
Anti-protectionism, xvii
Aristotle, 377
Arkansas, 92, 150, 187, 206
Asia, 88, 287
Asiatic Society of Paris, 130
Assignats, 132, 171, 369, 404
Australia, 76, 88, 271, 292
Balance of trade
commercial, 290
diminished, 26
England, 293, 412
exchange course and, xvii, 412-19
exports and imports, 290, 412
fallacy, 294
fanciful, 247
Balance of trade (Cont.)
favorable, 13
money and wheat, 272
unfavorable, 238
views, 271, 290-98
Balance sheet, 103, 157n, 282
Baltimore, 5
Bank Charter Act, 116, 197, 208, 409
Bank notes
amount estimated, 229
bills of credit, 6
circulating, 261
convertible, 60, 242
counterfeit, 261
deception, 402
deficiency in, 134
defined, 6
deposits and, xi, 46, 197, 246, 394
effects, 88, 127, 197, 206, 249
importance, 423
increased authorized, 373, 374
issued, xii, 37, 230
Massachusetts, 96
New England, 233
Bank notes (Cont.)
reflux of, 242, 243
Smith (Adam) on, 77, 243, 394
suppression, 11, 195, 233, 266
see also Banks and banking
Bank of Amsterdam, 99, 135
Bank of England
balance sheet (1696), 282
chartered, 116, 137, 197
currency principle, 129, 281
debt currency of, 118, 378
deposits, 199, 208, 326, 394
dividends, 139
established, 110, 119
history, 110, 137, 281
notes versus deposits, 246, 394
panics, 116, 305
“resumption” and, 409
South Sea Company and, 110
Bank of France, 422
Bank of North America, 38, 158, 362
Bank of St. George at Genoa, 135
Bank of Venice, 135
Bankruptcy
created, 33, 36, 54, 199, 201
currency and, 151-75
debt and, 393
defined, 350
destruction by, 107
extent of, 164, 177
France, absence in, 44
general, 84, 167, 179, 348, 368
individual, 69
inevitable, 306
insolvency and, 349-59
mass, 96
outcome, 91
principle, 151
remedy in, 346
results, 126, 239, 416
threat, xi
trade, 69
Banks and banking
accommodations, 24, 105, 210, 219, 245, 357
Arkansas, 92, 150, 187, 206
assets, xiv, xviii, 325
balances, 103, 157n
Banks and banking (Cont.)
Boston, 13
bullion, xii, 62, 150, 175, 217, 239
certificate of deposit, 46
chartering, xii, 116, 137, 197, 208, 267
commercial, 399, 417, 418
competition, xii
confidence in, 197
contraction, 37, 83, 96, 107, 211
cost of holding reserves, 225
country, 208
course of exchange, 222, 226, 403, 412
credit system and, 33, 95-109, 110-21, 402
currency and, xiii, 98, 202-18, 243, 327
debt
convertible, 119, 137
credits and, 101
deposits, 87
expanded, 192
factory, 54
increased, 74
mortgaged, 70
system, xi, 130, 174
defined, 266
deposits, 46, 87, 99, 206, 331, 394
evils, 83
failure, xii, 158, 281, 410
fractional-reserve, vi, xii, xviii
free, 401
French, 44, 211, 243, 296
government, 84, 240
increased, 92, 315
land, 32
legitimate, 261, 379, 416
liabilities, 107
loans, 60, 82, 212, 223, 283, 380
management, 419
Massachusetts, 30, 45, 96, 192, 214
Mississippi, 159, 296, 404
mistakes, 61, 106,
money, 49-56, 60, 62, 83, 100, 420-25
New Orleans, 215
Banks and banking (Cont.)
New York, 72, 84, 86, 91, 149, 192, 223
notes. See Bank notes
obligations, 83, 180
operations, 52, 211
principle, 36-48, 394, 423
reserve ratio, 65, 207, 327
reserves, 44, 144, 207, 327, 333, 406
savings, 12, 149, 216, 239, 269, 423
short-term indebtedness, xii
state, 6, 11, 106, 286
suppressed, 397, 418
taxation, 392
United States, 162
Bargaining, 360
Barter, 232, 247, 372
Bastiat, Frédéric, 307, 380, 386, 389
Belgium, 139, 140
Bills of credit, 6
Bills of exchange, 103, 234
Bills receivable, 221
Bimetallism, 185
Bohemia, 362
Bonds, 6, 280, 407, 410, 415
Boston
banks, 13, 206, 222
Commercial Convention, 321-39
Bowen, Francis, xxii (11), 245
Buckle, Henry Thomas, 179
Buenos Aires, 133
Bullion
Bank of New York, xiii, 149
banking, xii, 62, 150, 175, 217, 239
credit, 175
currency, 147
importance, 414
see also Specie
Calhoun, John C., xv, xxii (11), 162, 167, 330
California
capital, 328
commodities, 75
currency, 103, 336
emigration to, 21, 23
California (Cont.)
exports, 271, 329
gold, xv, 15-35, 191, 334
indebtedness of, 74
interest rate, 17
money, 103, 292, 322, 345
problem, 103
trade, 126
Capital
accumulation, 245, 343
amount, 200, 417
borrowing and lending, 113, 259, 303, 400
California, 328
circulating, xvi, 119, 302, 338, 420
desired, 68
fixed, 302
growth, 167, 342
labor and, 321
market allocation, xii
rent, 321
scarcity, 328
service, xiv, 217
tax, 194
working, 240
see also Wealth
Carey, Henry C., vi, xxii (11), 179, 184, 185, 190
Carrell, Jared, xxi (2)
Carroll, Charles, v, xxii (8), 300
Cary, Thomas G., 15, 34
Cassell, Gustav, xxiii (17)
Certificates, xiv, 46, 52, 87, 374, 379
Charles I, 136
Chase, S. P., 265, 269, 361, 407, 410
Checks, 87, 197, 265, 331, 395; see also Bank notes
Chevalier, Michael, xxii (11), 185, 306, 389
Chicago wheat, 325
China, 130, 132, 347
Civil War, xii, xiv, 278
Clearinghouse, 333, 354, 404
Cobden, Richard, 389
Coe, George S., xxii (11), 392, 394
Coin
banks, 62, 84, 374, 375
certificates, xiv, 12, 46, 84, 93
Coin (Cont.)
circulation, xiii
clipped, 119
counterfeiting, 262, 397, 422
debasement, 366
denomination system, 365
displaced, 38
French, xviii, 43n, 44, 173, 422
minting, 203, 263
proposed, 254
Revolutionary War, 38
U. S. Constitution, 6
see also Gold; Silver
Commercial Convention in Boston, 321-39
Common defense, 200
Competition, xii, 87, 211
Congress, U. S.
coin banks, 375
currency and, 265-74
dollar determined by, 365
regulations, 240
Congressional movement in the currency question, 196-201
Constitution, U. S.
interpreted, 6, 361
powers, 200, 265
taxation, 390
value of money, 238
Contraction
bank, 83, 96, 107, 211
causes and effects, 105, 164, 212
loans, 96, 151
Cooke, Jay, 361
Cost, reproduction, 184
Cotton production, 396
Credit mobilier, 31, 44
Credit
balances, 157
banking and, 33, 95-109, 110-21, 402
bills of, 6
book, 74
buying and selling on, 303, 400
debt and, 101
defined, 154, 422
fictitious, 267, 326, 357
irredeemable, 375
Credit (Cont.)
legitimate, 333
letter of, 402
speculation, 24, 210
system, 174, 301
use, xii, 52, 303
weakened, xvii, 2
Currency
act of, 1870, 373
activity of, 145
amount, 167, 258
artificial, 91
assignats, 132, 171, 369, 404
bankruptcy and, 151-75
board, 263
cheap, 74-85, 127
California, 103, 336
Chinese, 130
confidence in, 197
Congress and, 265-74
convertible, 118, 140, 283
debt. See Debt currency
decimal, 255
defined, 154
demand deposits as, 414
depreciated, 96
dual, xiv, 344, 357, 408
elasticity in, xviii
English, 200, 276, 369
expansion, xvii, 210, 242, 322
fictitious, 204, 244, 246
French, 149, 171, 256
government, 200n, 210, 229, 261, 286, 344
hoarding, 226
inconvertible, 140
inflation, 11, 96, 423
metallic, 65, 71, 104, 143, 345, 378
mixed, 27, 34, 55, 144, 202, 248, 260
national, 200n, 210, 229, 261, 286, 344
nonmetallic, xiv
obligations, xiv, 156, 178
organization of debt into, 86-94
paper, 415
per capita, 233, 334
price, 221, 310, 380
principle, 1, 253, 257, 394
Currency (Cont.)
property and, xv, 168, 178, 189
public opinion, 95, 242
purchasing power, 198
quality and quantity, 79, 417
question, 129-35, 136-50, 196-201, 321-39
specie, 34, 85
stable, 215
tariff and, 1-14
taxation, 248, 260, 418
theories, 202, 371-81
total and circulating capital, xvi
United States, 146, 177, 226-41, 302
D’Auguesseau, Chancellor, 244
D’Avenant, Charles, xxiii (11), 139
Davis, J. Amory, 392, 400
Dearborn, H. S., 36, 168
Debt
accumulation, 71, 77, 97, 102, 166, 180
bank. See Banks and banking, debt
bankruptcy. See Bankruptcy
borrowing and lending, 152
circulating, 141, 177
convertible, 118, 137, 152
credit and, 101
currency. See Debt currency
demand, 331, 423
dollar, 82
exchange, 196
factory, 54, 106, 120
French, 32, 171
government, 111, 118, 248, 258, 370, 415
interest rate and, 16, 74
issue, xii
long, 180
national, 119, 137, 259, 268, 276, 362, 369
obligations, 82, 178, 205, 360
paper money and, 19, 100
payment, 29, 57, 134
public, 136, 276, 318
quality and quantity, 74, 220
results, 62, 96; see also Bankruptcy state, 6
Debt currency
analyzed, 127, 156
Bank of England, 111
convertible, 142
defined, 154
expansion, xvi, 105
French, 171
New York, 141
organization, 86-94, 116
origin of, 100
prices created, 162, 169, 198
principle, 75, 81, 99
tax, 260
Deflation, xiv
Delmar, 335
Demand and supply
consumer, xiv, 297
currency, 221
importance, 383
law, 19, 194
money, 24, 131, 221, 238
precious metals, 88
trade, 91
variations in, 21, 122
wheat, 143, 253
Deposits and depositing
bank, 46, 87, 99, 206, 331, 394
certificates, 46, 52
convertible, 87, 198
created, 198
discount, 204, 269, 392-401, 402
England, 199, 208, 394
false, 401
fictitious, 157
imaginary, 206
importance of, 86
interbank, 200n, 229
interest on, 149
legislation and, 196, 394
manipulating, 394
multiple expansion of, 210, 212, 267, 268
nature of, xiv, 331
payment, 216
significance, xi
theoretical, 199, 423
De Quincey, Thomas, xxiii (11), 305, 309, 327, 328n, 353, 377
Diamonds, 181
Discounting
deposits, 204, 269, 392-401, 402
multiple, 82, 270, 271
principle, 2, 416
short, 222
Distribution, xvi, 2, 51, 210, 384
Dividends, 111, 139, 142, 210, 392
Dollar
abandonment, 251
bank, 56, 83
character, 17, 254
counterfeit, 71
debt, 82
defined, 361
deposits, 398
determination, 365
eliminated, xiii
expansion, 83
fictitious, 49, 161
marketable, 353
meaning, 52
price, 310
silver, 363
Spanish, xxiv (18)
use, 398
value, 49, 123, 295
Dorfman, Joseph, xxiii (13)
Double entry, 177, 178
Doubleday, Thomas, xxiii (11)
Dual currency proposed, 199, 344, 408, 409
Duke of Orleans, 32
Économistes, 385
Edward, Charles, 116
Edward I, 364
Emerson, Ralph Waldo, xxiii (11), 179
Emigration, 21, 23
Empress Eugenie, 106
England
anti-bullionists, 211
balance of trade, 293, 412
Bank. See Bank of England
clearinghouse, 333, 404
coins, 365
contributions to U. S., 288
England (Cont.)
currency in, 200, 276, 369
deposits, 199, 208, 394
exchange, xxiv (18)
exports and imports, 291
paper credit, 395
Protestants of, 111
public debt, 276
public opinion, 209
troy weight, 251, 256, 309, 362, 404
wealth of, 7, 341
Everett, Edward, xxiii (11), 180
Exchequer, 112, 137
Exchange
balance of trade, 412-19
bills of, 103, 234
commodity, 81, 126, 147, 322
course of, 222, 226, 403, 412-19
England, xxiv (18)
equation, xv
favorable, 54
foreign, xvii, 53, 58, 388
gold, 2
labor, 2
medium, 2, 103, 118, 123, 187, 200, 276
rate
course, 403, 405
foreign, 269, 278
gold and silver, 237, 260, 356
use, 142, 214, 393
value, 224
sterling, 237, 356
stock, 70
value, 60, 123, 223, 227, 317, 408
Expenditures, 212, 226, 383; see also Government
Exports and imports
balance, 290, 412
California, 271, 329
checked, 7, 200
commodity, 55, 89, 388
control, xvi
duties, 313
English, 291
excess, 247, 291
gold, 26, 33, 57-64, 66, 72
merchandise, 33, 71
Exports and imports (Cont.)
money, 40, 271, 306
payment for, 93
prices, 54
products, 141, 237
specie, 41, 141
tariff. See Tariff
Extravagances, 10, 106, 167n, 173
Famine, 42, 63
Foreign exchange, xvii, 53, 58, 388
France
agriculture, 173
assignats, 132, 171, 369, 404
banking, 44, 211, 243, 296
coinage, 43n, 44, 173, 422
commercial finances, 43
currency, 149, 171, 256
debt, 32, 171
hoarding, 43n, 423
inflation, 284
metric system, 365
paper money, 171, 422
precious metals, 185
war with, 136, 153
Francis, John, xxiii (11), 110, 113, 119, 138, 139, 281
Fullerton, John, xxiii (11), 43n, 78, 209, 211, 212
Galileo, Galilei, 176
Gallatin, Albert, xxiii (11), 18
Gambling, 157
General welfare, 196, 200
Genoa, Bank of St. George, 135
Gibson, xviii
Gilbart, J. W., xxiii (11), 113
Godfrey, Michael, xxiii (11), 111, 112, 138, 153, 283
Goethe, Johann Wolfgang, 418
Gold
California, and paper money, xv, 15-35, 191, 334
certificates, xiv, 84, 93
consumption and production, 88
demand, 57, 176
export and import, 26, 33, 57-64, 66, 72
Gold (Cont.)
measured, 17, 59, 123, 295
mining, 128
paper money and, 300, 394
premium on, 409
quantity, 60, 254
retained, 190, 334
standard, 358, 418
supply, 57, 176
troy ounce, 251
value, 50, 57, 66, 118, 185, 243
wealth, 16, 20, 33, 49
Goldsmiths, 119
Gouge, William M., xxiii (11), 48, 150, 349, 350, 412
Government
annuities, 110, 137
bonds, 280, 407, 410, 415
coins, xiv, 42, 253, 366
credit, 136, 265
currency, 200n, 210, 229, 261, 286, 344
debt, 111, 118, 248, 258, 370, 415
edicts, 296
expenditures, 130, 248, 383; see also Taxation
extravagance, 167n, 173
finances, 250, 275-89, 360
function, 315
issues, 261
interference, 388
legal tender, 38, 278-89, 317, 346, 360
loans, 98, 119, 250, 283
regulations, xiv, 238n
revenue, 9, 385
sovereign, 200, 203, 364
spoliation, 384
state. See State
tariff. See Tariff
tax. See Taxation
wealth, 158, 258, 272, 299, 308, 373
Whig Party, 9
see also Names of countries
Greenbacks
advantages, xiv, 256
certificates exchanged for, 374
circulating, 405
Greenbacks (Cont.)
issued, 268, 286, 344, 361
premium, xiv
reduction and destruction, 410
retirement of, 418
Great Britain. See England
Guthrie, James, xxiii (11), 145, 168
Hamburg, Bank of, 135
Hansard’s Parliamentary Debates, 198
Harris, Joseph, xxiii (11), 367, 389
Heresies, financial, 219-25
Hides. See Leather and hides
Hoarding
bank, 52
Civil War, 278
currency, 226
exercised, xvi, 144, 163, 245
French, 43n, 423
Holland, 154, 173
Holt, Elizabeth, xxi
Hooper, Samuel, xxiii (11), 215, 225
Hooper vs. Lowell on banking and currency, 202-18
Hume, Joseph, xxiii (11), 198, 209, 396
Hunt, Freeman, 1, 15
Idleness, 167n
Illinois, 271, 325, 336
Imports
commodity, 55
duties, 313
prices, 54
tariff, 385
see also Exports and imports
Impost duties, 7, 311
Income, xvi, 115, 315
Independent treasury, 240
Industry, 1, 2, 42, 50, 386
Inflation
causes, 13, 91, 333
created, xv, 32, 89, 346
currency, 11, 96, 423
French, 284
power, 160, 219, 221
prices, 7, 40, 55, 199
Inscriptions, 164, 198
Insolvency and bankruptcy, 349-59
Interest
bank notes, 250
borrowing and lending, 37
compound, 222
currency, 74-85
debt and, 16, 74
deposits and, 149
high, 75, 83
money, 75, 125, 322
prices and, xviii
rate, 54, 98, 125, 248, 279, 322
return, 16
risks, 62, 127
tallies, 140
theory, 408
use, 33
value, 323
Interference, 201; see also Government
Investments, 140
Ireland, 42, 63
Isodynamic, 328, 352
Italy, 173
James II, 111
Japan, 227, 348
Keynes, John Maynard, xviii
Kiao-tsu, 131
King, Horatio, x
Kiting
debt and, 230, 319
example, 4, 259
exercised, 224, 271
kind of, 219
prices, 296
principle of, 248, 257
system, 68, 71, 210
Klaproth, Henry Julius, 130
Knapp, John Friedrich, xv
Kohinoor diamond, 161, 181, 296
Labor
agricultural, 173, 314, 385
capital and, 300, 321
division of, 193
gold and, 163
importance, 195
Labor (Cont.)
needed, 56, 71
productive, 33, 163
prosperity and, 7
rewards, 382
tax, 194
unproductive, 167n
value, xv, 184, 389
Laissez faire, 7, 388, 401
Land bank, 32
Law
commercial finance, 1, 80
currency, 371
demand and supply, 19, 194, 215
deposits, 196, 394
distribution, 51, 384
ex post facto, 361
precious metals, 185
progress, 47
tariff, 193
Law, John
banking, 32, 243, 296, 404
deposits, 394
expenditure, 211
property, 171
specie, 297
Lawrence, Abbott, 42
Lawrence, Amos, xxi (4)
Lawrence, William R., xxi (4), xxiii (11)
Leather and hides
circulated, 165
imported, 97
trade, 211, 219
value, 18, 56
Ledger balances, 103
Legal tender, 38, 275-89, 317, 346, 360
Lesbian rule, 377
Loans
amount, 213
bank, 60, 82, 151, 212, 223, 283, 380
Boston, 206, 223
capital, 102, 213, 250, 270, 322, 369
commercial, 399
contracted, 93, 96, 151, 212
forced, 360
government, 98, 119, 250, 283
interest rate, 37
Loans (Cont.)
money, xii, 46, 197, 223
regulated, xii
results, xvi, 72
Local dealing and expenditure, 212
Louis XIV, 111
Louisiana, 69, 207, 215
Lowell, John A., xxiii (11), 202, 208
Lowell vs. Hooper on banking and currency, 202-18
Lyman, George D., 161
Mackay, Charles, xxiii (11), 296
McCulloch, John Ramsay, 110, 139n, 367, 389
Management, 50, 138, 245, 419
Mandats, 132, 171, 404
Manufactures, 385
Massachusetts, 30, 45, 96, 192, 214;
see also Boston
Mercantile treasury, 12
Merchandise, 33, 54, 71, 91, 152, 245
Metallic system, 29, 272, 332
Mill, John Stuart
anti-bullionist, 121
Carroll, C. H. and, v, xv
credit influence, xii, 403
debt currency, 78
French coin, 44
interest rate, 323
Lowell and, 208
metallic system, 272, 332
money, 55, 104, 126
tariff, 389
taxes, 383
wealth, 186, 341
Miller, H. E., x, xix, xxiii (13) (15), xxiv (20) (22)
Mints, L. W., x, xix, xxi (1), xxiii (13) (16), xxiv (20)
Mississippi banking, 159, 206, 296, 404
Mixed currency. See Currency, mixed
Money
attributes, 176-95
banking, 49-56, 60, 62, 83, 100, 420-25
California, 103, 292, 322, 345
Chinese, 130
Money (Cont.)
circulating, 50, 93, 367, 372, 401
coining, 38, 422
commerce and, 50, 322
commodities and, 68, 88, 120, 188, 322, 415
counterfeit, 261, 395, 422
currency, 133, 152, 234, 430
debased, 41
defined, 100, 154, 323, 363
demand, 24, 131, 221, 238
depreciated, 242, 399
export and import, 40, 271, 306
fictitious, 54
frenzy, 171, 422
loans, xii, 46, 197, 223
measured, 123, 142, 159, 260, 377
medium of exchange, 2, 103
metallic, xv, xvii
national, natural sum of, 402-11
nature of, 189, 215
nonexistent, 254
paper. See Paper money
payment, 268, 278, 409
per capita, 407
prices, 18, 33, 146
purchasing power of, xv, 142, 304, 414
quantity, 4, 16, 75
real, 45, 117, 125, 300
scarcity, 24, 68
skin, 130
spurious, 304
state issue of, xii
trade, 29, 401
unit, 130, 250, 251, 362, 363
value. See Value, money velocity of, 104, 145, 161, 372, 383, 393
Monopoly, 385
Montesquieu, Charles Louis, 328n
Namur, 111, 140, 153 Napoleon, Louis, xiv, 33, 172, 318, 422, 423
National Bank Act, 264, 265, 286
National Debt, 119, 137, 259, 268, 276, 326, 369
Natural law, 55, 202, 232, 392, 400
Natural resources, 307, 310, 315, 387
Natural sum of nation’s money, 402-11
Natural volume of money, 30, 80, 215, 281, 337
Navigation, 47, 70, 388
New Orleans, 69, 207, 215
New York
banks, 72, 84, 86, 223
Bullion Bank of, 149
debt currency, 141, 192
exchange center, 240
influence, 91
Newbold, George, 161
“Notes payable,” 93
Ohio Life and Trust Company, 347
100% reserve banking, 12, 62, 150, 174, 215, 239, 417
Opdyke, George, xxiii (16)
Overtone (Lord), xxiii (11), 209, 396
Pacific Railroad Company, 347
Panics
causes, 2, 399, 408
crisis in, 163, 180, 221
end of, 240
frequency, 116
Paper money
advantages, 243
arguments against, xiv
belief in, 285
coin eliminated by, 38
debt and, 19, 100
doctrine, xiv, 405
effects of, 187, 381, 388
gold and, 243, 300, 394
history of, 98
inconvertible, 132
labor-saving machine, 202
legislation, 418
loss in, 33
manipulated, 331
Par of exchange, 228, 238, 280, 333
Parity, xvii
Patterson, William, 115, 119, 120, 137, 394
Peace, 10, 68, 317
Peel, Sir Robert, 116, 208, 209, 409
Phillips, Wendell, 173
Platinum, 262, 263
Population
capital and, 292
growth, 59, 343, 373, 406
United States, 233
wealth, 341
Postal money orders, xiii, 84, 261
Precious metals. See Gold; Silver
Prices
aggregate, 310
attribute, 188
commodity, 49, 59, 66, 146, 163, 296
created, 162, 169, 198
credit and, 403
currency, 221, 310, 380
defined, 53, 124
dollars and, 310
effects on, 86, 88, 104, 246, 316, 382
emigration and, 21
fall of, xiv, 96, 133, 409
false, 178, 421
fictitious, 244
general, 292, 296, 408, 414
gold, 39
high, xviii, 21, 81
importance of, 352
increased, xvi, 53, 321
interest rate, xviii
measured, 123, 310, 373, 380, 420
money, 18, 33, 146
property, 16, 51, 302
relative, xvii
rise of, 18, 33, 142, 296
specie, and results, 65-73
tariff and, 310
Printing, 308
Progress, 23, 47
Promissory notes, 50, 103, 221, 234
Property
circulating, 177, 217, 226, 330
currency, ratio to, xv, 168, 178, 189
landed, 32
national, 145
personal, 119
prices, 16, 51, 302
taxes, 382
Property (Cont.)
transfers, xvi
valuation, 390
Protectionism, xi, 7, 298, 310, 382; see also Tariff
Protestants of England, xviii, 111
Ptolemy, 176, 337
Public economy, blunders, 347
Public opinion
banking system, 14, 95, 105
currency question, 95, 242
England, 209
guide to, 69
policies, 81, 94
Purchasing power, xv, 142, 198, 304, 323, 414
Quesnay, François, xxiii (11), 385, 389
Radlich, Fritz, xxiii (13)
Rent, capital, 279, 321
Repudiation, 360
Reserves (reserve ratio), 25, 110, 164, 204, 225, 327
Restriction Act of Parliament, 409
Resumption, 340, 358, 408, 410
Revenues, 9, 385
Ricardo, David, xiv, xxiii (11), 78, 409
Risk-taking, 62, 127, 216
Savings banks, xii, 12, 149, 216, 239, 269, 423
Say, Jean-Baptiste, xxiii (11), 198, 307, 389
Scarcity, 24
Science defined, 337
Sealed bills, 154
Self-government, 315
Sherman, John, 385, 414
Silver
China, ancient, 131
coinage, 255, 262
displacement by gold, 185
exchange, 237, 356
mining, 128
outflow, 87
paper money and, 243
Silver (Cont.)
recoined, 116, 139, 141, 154
value, 50, 118, 243, 367
Smith, Adam
agriculture, 387
anti-bullionist, 121
Bank of England, 110, 281, 379
capital attraction, 386
Carroll, C. H. and, v, xxiii (11)
convertibility, 245, 283
currency, 76, 243, 378
debt system, 105
deposits, 394
error of, 17
leadership in, 368
paper money, 42, 50, 243, 339, 367, 394, 405
precious metals, 61, 272, 366
South Sea annuities, 110
tariff, 389
trade, 141, 159, 385, 389, 412
wealth, 51, 179, 186
Smith, Goldwin, xxiii (11), 275
Smith, J. Y., 330
Smith, Samuel F., xxii (10)
South Sea Company, 98, 110
Sovereignty, 200, 203, 364
Spanish dollars, xxiv (18)
Spartan currency, 300
Specie
banks and, 44, 65, 206, 242
capital, 212, 214
currency, 34, 85
demand, 87
export and import, 41, 141
flow of, xvii
holding, 206, 225
importance, 46
liabilities, 212, 214
payment, 14, 340-48, 356, 371, 409, 412
prices and results, 65-73
reserves, 202, 212
retained, xiv, 206
use, xvi, 57, 297
value, xiii
see also Gold; Silver
Speculation, xii, xvii, 24, 210
Standard of value, 97, 100, 107
State
banking, 6, 11, 106, 286
debt, 6
government, 267
legislature, xii, 6, 11, 30, 79, 186
tax, 194
Sterling, exchange, 237, 356
Stock exchange, 70
Stuarts, 111, 119, 136
Subscriptions, 111, 137
Sulley, Richard, xxiii (11), xxiv (21)
(22), 299, 301
Supply. See Demand and supply
Tallies, 111, 136, 140
Tariff
currency and, 1-14
imports, 385
laws, 193
prices and, 310
principle, 9, 152, 385
protective, 7, 298, 310, 382
rate of duties, 272
reliance on, xvii
taxation and, 311-20, 382-91
Taxation
banking, 140, 248, 392, 397, 418
burden, xvii
currency, 248, 260, 418
direct, 315
equitable, 193
government revenue, xiii, 9
income, 315
inequality, 317
national, 311
prices and, 382
property, 382
state, 194
tariff and, 311-20, 382-91
U. S. Constitution, 390
Texas, 206
Thornton, Henry, xxiii (11), 395
Tinges, George W., vii
Torrens, Robert, xxiii (11), 267n
Troy ounce, xiii, 251, 256, 309, 362, 404
Trust companies, 216, 399
United States
Bank, 162, 330
Constitution. See Constitution, U. S.
currency, 226-41
Value
attribute of money, 188
basis of, 389
commercial, 122-28
commodity, 19, 96, 107, 142
decline of, 210, 254
defined, 20, 53
dollar, 49, 123, 295
exchange, 60, 123, 223, 227, 317, 408
exports and imports, 91
gold, 50, 57, 66, 118, 185, 243
imputed, 300
labor, xv, 184, 389
law. See Law, value
market, 297
measured, 122, 142, 184
money
altering, 211, 222
decline, 198, 203
determined, 420
effects on, 246
exchange, 60, 123, 223, 414
international, 271, 292
measured, 123, 142, 159, 260, 377
paper. See Paper money
prices and, 18, 296
regulated, 200, 238, 268
nature of, 206
normal, 310
precious metals, xvi, 50, 185, 260
prices. See Prices, value and
silver, 50, 118, 243, 367
wealth, 247, 273
Velocity of money, 104, 145, 161, 372, 383, 393
Venice, Bank of, 125
Viner, Jacob, xxiii (17)
Walker, Amasa, xxi (6), xxiii (11), 187, 371
Want-satisfaction, 47, 51, 68
War
absence of, 68
Belgian, 139
debt, xiv
Civil, xii, xiv, 278
coins and, 38
French, 136, 153
Napoleonic, xiv
production, 258
Revolutionary, 38
Wealth
accumulated, 33, 148, 341
basis of, 386
consumption and production, 7, 167, 341
created, 23, 71, 148
distribution, xvi, 69, 382
effects, 49, 140, 338
English, 7, 341
extent of, 199, 227
gold and, 16, 20, 33, 49
investments, 140
money and, 179, 330, 380
national, 158, 257, 299, 308, 373
utility, 78, 128
Webster, Daniel, xxiii (11), 35
Weights and standards, 29, 363, 365
Wells, David A., xxiii (11), 390
Whig Party, 9
White, Rebecca, viii
William and Mary, 111
William III, 136
