Financial History of the United States

Portada
Longmans, Green, and Company, 1902 - 550 páginas

Dentro del libro

Contenido

Taxation
63
Borrowing Bills of Credit
69
Coinage 8 8 5 2 62
71
Appropriations
72
Popular Objections to the Financial Powers
73
ESTABLISHMENT OF A NATIONAL SYSTEM 33 References
75
Economic Conditions in 1789
77
Tariff Measures
81
Principle of Protection
84
Establishment of the Treasury Department
85
Internal Organization of the Treasury Department
87
Funding of the Debt
91
Assumption of State Debts
93
Character of the New Debt
95
NEW FINANCIAL NEEDS 17901801
97
First United States Bank
99
Mint and Coinage
103
Excise Tax on Whiskey
105
Other Excise Duties Carriage
106
Direct Taxation
109
Summary of Receipts 17891801
110
Expenditures 17891801
111
The Debt 17891801
112
Sinking Fund Management of the Debt 75
113
80
118
Treasury Administration War Period
131
War Loans
132
Issue of Treasury Notes
135
Internal Revenue Taxes Other Taxes
138
Expenditures and Receipts 18121815
141
85
143
Currency Disorder
144
Establishment of the Second United States Bank
145
Career of the Bank 18161819
150
Local Banks 18151830
153
United States Bank 18231829
156
Constitutionality of the Bank
157
Issues of Banks Owned by States
160
Tariff of 1816
161
Financial Embarrassments 18161821
165
87
168
Difficulties in Management of the Funded Debt
170
TARIFF LEGISLATION 18181833
172
Struggle for Increased Protection Tariff of 1824
173
Tariff of 1828
176
Intense Opposition to the Tariff
181
Tariff of 1832
183
Nullification Compromise Tariff
185
Problems of Customs Administration
189
Analysis of Tariff Reasoning
191
92
197
Criticism of the Bank
198
Unsuccessful Effort to Recharter
201
Removal of the Deposits
203
The Pet Banks
209
Change in Coinage Ratio
210
Internal Improvements
212
94
216
Surplus Revenue
217
Distribution of the Surplus
219
CHAPTER PAGE X PANIC OF 1837 AND RESTORATION OF CREDIT 95 References
223
Speculative Prosperity
224
97
227
98
229
Distress of the Treasury
231
Issue of Treasury Notes and Loans
234
101
235
Tariff of 1842
237
Struggle for a New Bank
239
State Repudiation
243
105
246
106
248
Tariff of 1846
249
The Independent Treasury Reestablished
252
109
255
110
256
Progress toward Lower Duties
257
Local Banking 1837186
259
Tariff of 1857 Panic
262
Issue of LegalTender Notes
284
Convertibility of the Greenback
290
Depreciation of the Greenback
292
Gold Premium
294
112
296
LOANS TAXATION AND BANKING OF THE CIVIL WAR 126 References
298
Taxation in 18611862
299
Increase of Taxes
302
+XV GREENBACKS AND RESUMPTION
359
Issues in Times of Peace
367
Resumption Act of 1875
373
Greenback Party
379
CHAPTER PAGE XVI BANKING AND TAXATION 18661879 continued
383
Relations of the Banks to the Government
387
Antagonism to the National Banking System
389
Revision of Internal Revenue System
391
Tariff Changes
396
Receipts and Expenditures 18661879
398
113
399
SILVER AND BANKING 18731890
402
Demonetization of Silver
403
Struggle for Free Coinage Bland Act
405
Coinage under the Bland Act
407
Unsuccessful Efforts to stop Coinage
409
Continued Opposition to National Banks
410
Decline in Bank Circulation
411
SURPLUS REVENUE AND TAXATION 18801890
414
Surplus Revenue
415
Deposit of Funds in National Banks
417
Reduction of Internal Revenue Duties
418
Tariff Revision
420
Unsuccessful Democratic Tariff Measures
423
Increased Expenditures
426
Treasury Purchase of Bonds
428
115
428
The Public Debt 18801890
431
ECONOMIES AND WAR 18011816
434
Silver Act of 1890
436
McKinley Tariff of 1890
438
The Gold Reserve and its Decline
440
Panic of 1893 Repeal of Silver Purchases
442
Sale of Bonds for Gold
447
Legality of the Bond Issues
450
The GormanWilson Tariff
455
Currency Measures
458
Struggle for Free Coinage
460
TARIFF WAR AND CURRENCY ACT 195 References 463 995
463
Spanish War Finance
465
Currency Act of 1900
468
Redemption of Treasury Notes
469
Refunding
471
Economies and Reduction of Taxation 55 New Demands upon the Treasury 56 Receipts and Expenditures 18011811
472
FINANCIERING UNDER EXPANSION 202 References
474
Treasury Relief of the Money Market
477
National Banks
479
Panic of 1907
481
VreelandAldrich Act of 1908
482
PayneAldrich Tariff of 1909
483
Corporation Tax
486
Postal Savings Banks
487
Underwood Tariff 1913
488
The Income Tax
489
The Federal Reserve Act of 1913
491
Receipts and Expenditures 19021913
493
Sinking Fund 58 End of the United States Bank 59 Inadequate Preparation for War 118 119
494
121
498
Initiative in Tariff Bills
499
Appropriation Bills
504
Collection of Revenue
509
Custody of the Public Funds
513
The Mint
516
Accounting System
518
Public Debt Statement
519
Miscellaneous Treasury Bureaus
521
APPENDIX
523
INDEX
531
126
537
128
549

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Página 49 - ... person be .allowed to serve in the office of president more than one year in any term of three years; to ascertain the necessary sums of money to be raised for the service of the United States...
Página 84 - Whereas it is necessary for the support of government, for the discharge of the debts of the United States, and the encouragement and protection of manufactures, that duties be laid on goods, wares, and merchandises imported: Be it enacted, etc.
Página 31 - ... we cheerfully consent to the operation of such acts of the British parliament, as are bona fide, restrained to the regulation of our external commerce, for the purpose of securing the commercial advantages of the whole empire to the mother country, and the commercial benefits of its respective members ; excluding every idea of taxation internal or external, for raising a revenue on the subjects in America, without their consent.
Página 50 - Congress assembled, shall have the sole and exclusive right and power of determining on peace and war, except in the cases mentioned in the sixth article — of sending and receiving ambassadors — entering into treaties and alliances: Provided, That no treaty of commerce shall be made, whereby the legislative power of the respective States shall be restrained from imposing such imposts and duties on foreigners as their own people are subjected to, or from prohibiting the exportation or importation...
Página 159 - If the States may tax one instrument employed by the government in the execution of its powers, they may tax any and every other instrument. They may tax the mail ; they may tax the mint; they may tax patent rights; they may tax the papers of the custom-house; they may tax judicial process; they may tax all the means employed by the government, to an excess which would defeat all the ends of government. This was not intended by the American people. They did not design to make their government dependent...
Página 228 - States as aforesaid, ought to be collected or received otherwise than in the legal currency of the United States, or Treasury notes, or notes of the Bank of the United States, or in notes- of banks which are payable and paid on demand in the said legal currency of the United States.
Página 364 - Congress must possess the choice of means and must be empowered to use any means which are in fact conducive to the exercise of a power granted by the Constitution.
Página 452 - And it is hereby further declared that the efforts of the Government should be steadily directed to the establishment of such a safe system of bimetallism as will maintain at all times the equal power of every dollar coined or issued by the United States, in the markets and in the payment of debts.
Página 228 - ... and which shall not be equivalent to specie at the place where offered, and convertible into gold or silver upon the spot, at the will of the holder, and without delay or loss to him...
Página 301 - Wherever you see a head, hit it : ' wherever you find an article, a product, a trade, a profession, or a source of income, tax it!

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