Memorial of the Committee Appointed by the "Free Trade Convention,": Held at Philadelphia, in September and October, 1831, to Prepare and Present a Memorial to Congress, Remonstrating Against the Existing Tariff of Duties
Wm. A. Mercein, 1832 - 87 sider
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actual ad valorem adopted afford American annual average bank notes Bank of England bar iron bills of exchange branches capital cent chartered banks circulation city banks commercial commodities Congress consists Constitution Convention country banks debt demand deposits depreciated depreciated currency difference discounts domestic manufacture effect England equal evil exceed exclusively exports Farmers favorable foreign article France free banking gold and silver greater imported increase individual industry interest iron issue labor less lessened loans millions of dollars necessary New-York nominal object operations paid paper currency paper money payable Pennsylvania pound sterling precious metals prime cost principal produce profit provisions purchase purpose quantity reduced respect restrictions resumption of specie revenue specie payments standard of value sterling substituted sufficient supply suspension of specie tariff tariff of 1824 thousand dollars tion Treasury troy weight uniform United wanted whilst York
Side 54 - To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this title.
Side 5 - It is invested with the power to coin money, and to regulate the value thereof, and to regulate commerce with foreign nations and among the several States.
Side 74 - No objection ought to arise to this construction from the supposition that it would imply a power to do whatever else should appear to Congress conducive to the general welfare.
Side 74 - These three qualifications excepted the power to raise money is plenary and indefinite, and the objects to which it may be appropriated are no less comprehensive than the payment of the Public debts, and the providing for the common defence and general Welfare. The terms "general Welfare...
Side 95 - No person, association of persons or corporation, except such as are expressly authorized by law, shall keep any office for the purpose of issuing any evidences of debt, to be loaned or put in circulation as money; nor shall they issue any bills or promissory notes or other evidences of debt as private bankers, for the purpose of loaning them or putting them in circulation as money, unless thereto specially authorized by law.
Side 55 - The said corporation shall not, directly or indirectly, deal or trade in buying or selling any goods, wares, merchandise, or...
Side 107 - ... everywhere, among the learned, the lawyers, the military, artists, merchants, mechanics, and men of all stations. - The reader may judge how well it is adapted to its object, from the circumstance, that though it now consists of twelve volumes, seven editions, comprising about ONE HUNDRED THOUSAND COPIES, have been printed in less than fifteen years. It has been translated into the Swedish, Danish and Dutch languages, and a French translation is now preparing in Paris.
Side 74 - And there seems to be no room for a doubt that whatever concerns the general interests of learning, of agriculture, of manufactures, and of commerce, are within the sphere of the national councils, as far as regards an application of money. The only qualification of the generality of the phrase in question, which seems to be admissible, is this: That the object to which an appropriation of money is to be made be general, and not local; its operation extending in fact or by possibility throughout...
Side 92 - Secondly. It will also be expected, that it will powerfully assist in raising the necessary loans, not by taking up, on its own account, any sum beyond what may be entirely convenient and consistent with the safety and primary object of the institution, but by affording facilities to the money lenders. Those, who, in the first instance, subscribe to a public loan, do not intend to keep the whole, but expect to distribute it gradually with a reasonable profit. The greatest inducement, in order to...