This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1905 Excerpt: ... cause than the forced sales, which has reversed the natural order of things, and has led to competition among sellers, not buyers. Whatever cause may have produced the effect, some of the stocks of our sister states have depreciated 25% below their nominal value; and it is not presumed that this great deterioration ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1905 Excerpt: ... cause than the forced sales, which has reversed the natural order of things, and has led to competition among sellers, not buyers. Whatever cause may have produced the effect, some of the stocks of our sister states have depreciated 25% below their nominal value; and it is not presumed that this great deterioration can justly be ascribed to any loss of public confidence in the ability or good faith of these states to meet the interest and provide for the final redemption of the stock." "We are satisfied that our stock, of an amount large enough to meet the public exigencies during the present year, cannot be sold without great sacrifices. During the present year we have exhausted every source of supply, both domestic and foreign within our reach; and it was not without the greatest exertions that we succeeded as far as we did in procuring funds." Rather than dispose of the stocks of the state at a sacrifice, the commissioners issued a circular letter and sent it to the different banks of Ohio, asking them to make temporary loans to the state in order to overcome the difficulty of placing the loans in New York or Europe. These local banks generously re-sponded. From them the state secured about $500,000 in 1841. which was enough to carry on the public works during that year. The commissioners saw that it would be a bad policy to issue more stock while the monetary affairs were in such a condition. Accordingly they recommended that the legislature should suspend work on the public improvements except the Wabash and Erie canal, the construction of which was provided for by the special loans of 1838, 1839 and 1840, and the receipts from the sale of the canal lands lying on the border of the canal. They also recommended that the law granting stat...
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New. Trade paperback (US). Glued binding. 202 p. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
