THE PANIC OF 1819 Reactions and Policies phần 10 ppt

... price controls on the rates of inns and hotels. This would spur business by lessening the cost of travel. There were some who adopted the protectionist theory of the cause of the depression ... bridges and turnpikes. Thus, in Virginia, the citizens of Frederick and Shenandoah Counties asked for reduction of their bridge tolls in view of the depression...

Ngày tải lên: 09/08/2014, 19:22

... pay the salaries of state officials and of the members of the legislature, and arose from refusal of state officials to accept their salaries in the bank notes at their par value. 97 In the ... As the loan office swung into action in the summer and fall of 1821, the proponents were hopeful of success. Most of the papers in the state had supported...

Ngày tải lên: 09/08/2014, 19:22

... 8 THE PANIC AND ITS GENESIS $10 million, and the loans were particularly heavy to the important Philadelphia and Baltimore officers and directors of the Bank. 26 Control over the branches of ... Passed by the Congress of the United States of America (Boston: Wells and Lilly, 1827), II and III, passim. 34 See the data compiled from the records o...

Ngày tải lên: 09/08/2014, 19:22

... Thomas, and King and Walker of Alabama. THE PANIC AND ITS GENESIS 21 President Monroe ignored the panic completely and hailed the abundant harvest and the flourishing of commerce. 84 In the ... and prices, and a great burden of debt. The responsibility for the debtors’ plight was therefore that of the banks, and not of the debtors themselves....

Ngày tải lên: 09/08/2014, 19:22

... disapproval of the Knoxville Register. 104 It declared that the people were 99 For example, the Bank of the State of Tennessee and the Nashville Bank. 100 Tennessee General Assembly, Journal of the ... to accept at par the notes of the state’s leading bank -the Bank of Kentucky -and a mandatory three-month stay even if the creditor accepted the...

Ngày tải lên: 09/08/2014, 19:22

... and in Nashville, and there had become a personal friend of Andrew Jackson. The leading force on behalf of the state bank was the Vincennes Sentinel, the editor of which was an officer of the ... Savannah branch of the Bank of the United States. As a result of its previous expansion and 16 Report on the Joint Committee of the Planters’ Bank and...

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... passed the Senate by a vote of 22 to 15. 156 The establishment of the Bank of the Commonwealth was a measure of the dissatisfaction of the expansionist forces with the semi- private Bank of Kentucky, ... increase or decrease in the quantity of the circulating medium. The debtor and creditor should then receive, on repayment of the debt, money of t...

Ngày tải lên: 09/08/2014, 19:22

... is there to control the power of the national bank?” 14 The most famous and one of the most thoroughgoing opponents of bank credit was Thomas Jefferson. Jefferson reacted to the panic of 1819 ... products, while the Mises-Hayek theory blamed the crisis on a shortage of saved capital. In the panic of 1819, the protectionists stressed the lack of...

Ngày tải lên: 09/08/2014, 19:22

... for the notes of their bank, and that there be “double liability” for stockholders. When the bill reached the floor, there was a flurry of attempts both to weaken and strengthen the measure. The ... To Carey, the condition of the United States was empirical evidence of the evils of nonprotection and the alleged adoption of the pernicious maxims of...

Ngày tải lên: 09/08/2014, 19:22

... protection. Typical was the petition of the Society of Paper Makers of Pennsylvania and Delaware. They pointed to the extent of paper manufacture and the number employed In the industry, and advocated ... Jersey, chairman of the Committee of Manufactures which reported the bill. He stressed the dominant theme of the protectionists -the great distress...

Ngày tải lên: 09/08/2014, 19:22