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Financial History of The United States BY DAVIS RICH DEWEY, PH. D.,
PROFESSOR OF ECONOMICS AND STATISTICS, MASSACHUSETTS INSTITUTE OF
TECHNOLOGY. SECOND EDITION LONGMANS, GREEN, AND CO., 91 AND 93
FIFTH AVENUE, NEW YORK LONDON AND BOMBAY 1903 Copyright, 1902. BY
LONGMANS, GREEN, AND Co. All rights reserved. First edition,
February, 1903. Second edition, revised, November, 1903. JOHN
WILSON AND K, f AMB flfirn T r - TO THE SEMINARY OF THE DEPARTMENT
OF HISTORY, POLITICS, AND ECONOMICS OF JOHNS HOPKINS UNIVERSITY, Of
which the author was a member from 1883 to 1886. Under the
gtiidance of Adams, Ely, and Jameson, we read and learned. The
first has gone, leaving affectionate memories and organized
activities of permanent usefulness the others are still doing their
work in a spirit of broad-minded sympathy and fine scholarship.
Preface. THE attempt to compress into a volume of moderate size an
account of Federal finance from the Colonial period down to the
present time occasions perplexity. Some knowledge of politics and
economics must be pre-supposed, but the exact measure it is
difficult to estimate. In order to place readers as far as possible
on a common basis, the reference lists which are scat tered through
the volume have been constructed on a generous plan. In no way,
however, are these lists to be regarded as conditional to an
understanding of the text they are simply opportunities for a
better prepar ation, or a further study of special topics. In
writing this work, I have kept two things constantly in mind first,
its proportions, or the general perspec tive and second, the
relations of financial legislation to democracy. It is easy in the
light of accumulated ex perience to passjudgment on the errors of
the past, but historical study, in my opinion, is more fruitful if
the reader endeavors to interpret the past in accordance with the
experience which was available at the time the occurrences took
place. Past environment is the true test of past action. With this
conviction, I have endeavored to refrain, possibly not with entire
consist ency, from emphasizing the mistakes of previous gen
erations. A work on American Finance might well viii Preface. have
a didactic purpose, but this is a history and not a treatise. In
determining the proportions of this volume, I have been obliged to
pass by many incidents of keen interest the omissions arc
necessarily far greater than the inclu sions. The result is
doubtless a loss of interest, but it is hoped that the gain from an
orderly presentation of the essential facts may be a substantial
compensation. It is impossible to include by name all of those who
have given friendly counsel, but I wish to thank in particular the
editor of this series, Professor Hart, and Professor Henry B.
Gardner, of Brown University. The former undertook a very
considerate reading of the manuscript, and without the support of
his knowledge of American history my task would have been much more
difficult. To Professor Gardner I am under great in debtedness his
learning and sound judgment have constantly stood me in good stead,
and strengthened a friendship of long standing. I also wish to make
acknowledgment to Professor Bullock, who has done pioneer work for
several periods of American finance his investigations justify the
hope that he will find opportunity to write a larger work on the
finances of our country. I am in a special way indebted tomy
colleague, Professor Currier, to Mr. S. N. D. North, and to various
officials of the Treasury Department. MASSACHUSETTS INSTITUTE OF
TECHNOLOGY, BOSTON, January, 1903. SUGGESTIONS FOR STUDENTS,
TEACHERS, AND READERS. I. Introductory Heading Political History
and Biography...
This scarce antiquarian book is a selection from Kessinger
Publishing's Legacy Reprint Series. Due to its age, it may contain
imperfections such as marks, notations, marginalia and flawed
pages. Because we believe this work is culturally important, we
have made it available as part of our commitment to protecting,
preserving, and promoting the world's literature. Kessinger
Publishing is the place to find hundreds of thousands of rare and
hard-to-find books with something of interest for everyone!
This is a reproduction of a book published before 1923. This book
may have occasional imperfections such as missing or blurred pages,
poor pictures, errant marks, etc. that were either part of the
original artifact, or were introduced by the scanning process. We
believe this work is culturally important, and despite the
imperfections, have elected to bring it back into print as part of
our continuing commitment to the preservation of printed works
worldwide. We appreciate your understanding of the imperfections in
the preservation process, and hope you enjoy this valuable book.
++++ The below data was compiled from various identification fields
in the bibliographic record of this title. This data is provided as
an additional tool in helping to ensure edition identification:
++++ National Problems, 1885-1897, Volume 24; Volume 24 Of American
Nation: A History; Volume 24 Of American Nation; National Problems,
1885-1897 Davis Rich Dewey Harper & Brothers, 1907 United
States
This is an EXACT reproduction of a book published before 1923. This
IS NOT an OCR'd book with strange characters, introduced
typographical errors, and jumbled words. This book may have
occasional imperfections such as missing or blurred pages, poor
pictures, errant marks, etc. that were either part of the original
artifact, or were introduced by the scanning process. We believe
this work is culturally important, and despite the imperfections,
have elected to bring it back into print as part of our continuing
commitment to the preservation of printed works worldwide. We
appreciate your understanding of the imperfections in the
preservation process, and hope you enjoy this valuable book.
This is a reproduction of a book published before 1923. This book
may have occasional imperfections such as missing or blurred pages,
poor pictures, errant marks, etc. that were either part of the
original artifact, or were introduced by the scanning process. We
believe this work is culturally important, and despite the
imperfections, have elected to bring it back into print as part of
our continuing commitment to the preservation of printed works
worldwide. We appreciate your understanding of the imperfections in
the preservation process, and hope you enjoy this valuable book.
++++ The below data was compiled from various identification fields
in the bibliographic record of this title. This data is provided as
an additional tool in helping to ensure edition identification:
++++ The First And Second Banks Of The United States, Volume 4;
Senate Document; Volume 4, Issue 1 Of Publications Of National
Monetary Commission; United States National Monetary Commission;
National Monetary Commission; The First And Second Banks Of The
United States; John Thom Holdsworth John Thom Holdsworth, Davis
Rich Dewey, United States. National Monetary Commission, United
States. Congress Senate Govt. Print. Off., 1911 Business &
Economics; Banks & Banking; Banks and banking; Business &
Economics / Banks & Banking
This scarce antiquarian book is a selection from Kessinger
Publishing's Legacy Reprint Series. Due to its age, it may contain
imperfections such as marks, notations, marginalia and flawed
pages. Because we believe this work is culturally important, we
have made it available as part of our commitment to protecting,
preserving, and promoting the world's literature. Kessinger
Publishing is the place to find hundreds of thousands of rare and
hard-to-find books with something of interest for everyone
This scarce antiquarian book is a selection from Kessinger
Publishing's Legacy Reprint Series. Due to its age, it may contain
imperfections such as marks, notations, marginalia and flawed
pages. Because we believe this work is culturally important, we
have made it available as part of our commitment to protecting,
preserving, and promoting the world's literature. Kessinger
Publishing is the place to find hundreds of thousands of rare and
hard-to-find books with something of interest for everyone!
Financial History of The United States BY DAVIS RICH DEWEY, PH. D.,
PROFESSOR OF ECONOMICS AND STATISTICS, MASSACHUSETTS INSTITUTE OF
TECHNOLOGY. SECOND EDITION LONGMANS, GREEN, AND CO., 91 AND 93
FIFTH AVENUE, NEW YORK LONDON AND BOMBAY 1903 Copyright, 1902. BY
LONGMANS, GREEN, AND Co. All rights reserved. First edition,
February, 1903. Second edition, revised, November, 1903. JOHN
WILSON AND K, f AMB flfirn T r - TO THE SEMINARY OF THE DEPARTMENT
OF HISTORY, POLITICS, AND ECONOMICS OF JOHNS HOPKINS UNIVERSITY, Of
which the author was a member from 1883 to 1886. Under the
gtiidance of Adams, Ely, and Jameson, we read and learned. The
first has gone, leaving affectionate memories and organized
activities of permanent usefulness the others are still doing their
work in a spirit of broad-minded sympathy and fine scholarship.
Preface. THE attempt to compress into a volume of moderate size an
account of Federal finance from the Colonial period down to the
present time occasions perplexity. Some knowledge of politics and
economics must be pre-supposed, but the exact measure it is
difficult to estimate. In order to place readers as far as possible
on a common basis, the reference lists which are scat tered through
the volume have been constructed on a generous plan. In no way,
however, are these lists to be regarded as conditional to an
understanding of the text they are simply opportunities for a
better prepar ation, or a further study of special topics. In
writing this work, I have kept two things constantly in mind first,
its proportions, or the general perspec tive and second, the
relations of financial legislation to democracy. It is easy in the
light of accumulated ex perience to passjudgment on the errors of
the past, but historical study, in my opinion, is more fruitful if
the reader endeavors to interpret the past in accordance with the
experience which was available at the time the occurrences took
place. Past environment is the true test of past action. With this
conviction, I have endeavored to refrain, possibly not with entire
consist ency, from emphasizing the mistakes of previous gen
erations. A work on American Finance might well viii Preface. have
a didactic purpose, but this is a history and not a treatise. In
determining the proportions of this volume, I have been obliged to
pass by many incidents of keen interest the omissions arc
necessarily far greater than the inclu sions. The result is
doubtless a loss of interest, but it is hoped that the gain from an
orderly presentation of the essential facts may be a substantial
compensation. It is impossible to include by name all of those who
have given friendly counsel, but I wish to thank in particular the
editor of this series, Professor Hart, and Professor Henry B.
Gardner, of Brown University. The former undertook a very
considerate reading of the manuscript, and without the support of
his knowledge of American history my task would have been much more
difficult. To Professor Gardner I am under great in debtedness his
learning and sound judgment have constantly stood me in good stead,
and strengthened a friendship of long standing. I also wish to make
acknowledgment to Professor Bullock, who has done pioneer work for
several periods of American finance his investigations justify the
hope that he will find opportunity to write a larger work on the
finances of our country. I am in a special way indebted tomy
colleague, Professor Currier, to Mr. S. N. D. North, and to various
officials of the Treasury Department. MASSACHUSETTS INSTITUTE OF
TECHNOLOGY, BOSTON, January, 1903. SUGGESTIONS FOR STUDENTS,
TEACHERS, AND READERS. I. Introductory Heading Political History
and Biography...
Financial History of The United States BY DAVIS RICH DEWEY, PH. D.,
PROFESSOR OF ECONOMICS AND STATISTICS, MASSACHUSETTS INSTITUTE OF
TECHNOLOGY. SECOND EDITION LONGMANS, GREEN, AND CO., 91 AND 93
FIFTH AVENUE, NEW YORK LONDON AND BOMBAY 1903 Copyright, 1902. BY
LONGMANS, GREEN, AND Co. All rights reserved. First edition,
February, 1903. Second edition, revised, November, 1903. JOHN
WILSON AND K, f AMB flfirn T r - TO THE SEMINARY OF THE DEPARTMENT
OF HISTORY, POLITICS, AND ECONOMICS OF JOHNS HOPKINS UNIVERSITY, Of
which the author was a member from 1883 to 1886. Under the
gtiidance of Adams, Ely, and Jameson, we read and learned. The
first has gone, leaving affectionate memories and organized
activities of permanent usefulness the others are still doing their
work in a spirit of broad-minded sympathy and fine scholarship.
Preface. THE attempt to compress into a volume of moderate size an
account of Federal finance from the Colonial period down to the
present time occasions perplexity. Some knowledge of politics and
economics must be pre-supposed, but the exact measure it is
difficult to estimate. In order to place readers as far as possible
on a common basis, the reference lists which are scat tered through
the volume have been constructed on a generous plan. In no way,
however, are these lists to be regarded as conditional to an
understanding of the text they are simply opportunities for a
better prepar ation, or a further study of special topics. In
writing this work, I have kept two things constantly in mind first,
its proportions, or the general perspec tive and second, the
relations of financial legislation to democracy. It is easy in the
light of accumulated ex perience to passjudgment on the errors of
the past, but historical study, in my opinion, is more fruitful if
the reader endeavors to interpret the past in accordance with the
experience which was available at the time the occurrences took
place. Past environment is the true test of past action. With this
conviction, I have endeavored to refrain, possibly not with entire
consist ency, from emphasizing the mistakes of previous gen
erations. A work on American Finance might well viii Preface. have
a didactic purpose, but this is a history and not a treatise. In
determining the proportions of this volume, I have been obliged to
pass by many incidents of keen interest the omissions arc
necessarily far greater than the inclu sions. The result is
doubtless a loss of interest, but it is hoped that the gain from an
orderly presentation of the essential facts may be a substantial
compensation. It is impossible to include by name all of those who
have given friendly counsel, but I wish to thank in particular the
editor of this series, Professor Hart, and Professor Henry B.
Gardner, of Brown University. The former undertook a very
considerate reading of the manuscript, and without the support of
his knowledge of American history my task would have been much more
difficult. To Professor Gardner I am under great in debtedness his
learning and sound judgment have constantly stood me in good stead,
and strengthened a friendship of long standing. I also wish to make
acknowledgment to Professor Bullock, who has done pioneer work for
several periods of American finance his investigations justify the
hope that he will find opportunity to write a larger work on the
finances of our country. I am in a special way indebted tomy
colleague, Professor Currier, to Mr. S. N. D. North, and to various
officials of the Treasury Department. MASSACHUSETTS INSTITUTE OF
TECHNOLOGY, BOSTON, January, 1903. SUGGESTIONS FOR STUDENTS,
TEACHERS, AND READERS. I. Introductory Heading Political History
and Biography...
Financial History of The United States BY DAVIS RICH DEWEY, PH. D.,
PROFESSOR OF ECONOMICS AND STATISTICS, MASSACHUSETTS INSTITUTE OF
TECHNOLOGY. SECOND EDITION LONGMANS, GREEN, AND CO., 91 AND 93
FIFTH AVENUE, NEW YORK LONDON AND BOMBAY 1903 Copyright, 1902. BY
LONGMANS, GREEN, AND Co. All rights reserved. First edition,
February, 1903. Second edition, revised, November, 1903. JOHN
WILSON AND K, f AMB flfirn T r - TO THE SEMINARY OF THE DEPARTMENT
OF HISTORY, POLITICS, AND ECONOMICS OF JOHNS HOPKINS UNIVERSITY, Of
which the author was a member from 1883 to 1886. Under the
gtiidance of Adams, Ely, and Jameson, we read and learned. The
first has gone, leaving affectionate memories and organized
activities of permanent usefulness the others are still doing their
work in a spirit of broad-minded sympathy and fine scholarship.
Preface. THE attempt to compress into a volume of moderate size an
account of Federal finance from the Colonial period down to the
present time occasions perplexity. Some knowledge of politics and
economics must be pre-supposed, but the exact measure it is
difficult to estimate. In order to place readers as far as possible
on a common basis, the reference lists which are scat tered through
the volume have been constructed on a generous plan. In no way,
however, are these lists to be regarded as conditional to an
understanding of the text they are simply opportunities for a
better prepar ation, or a further study of special topics. In
writing this work, I have kept two things constantly in mind first,
its proportions, or the general perspec tive and second, the
relations of financial legislation to democracy. It is easy in the
light of accumulated ex perience to passjudgment on the errors of
the past, but historical study, in my opinion, is more fruitful if
the reader endeavors to interpret the past in accordance with the
experience which was available at the time the occurrences took
place. Past environment is the true test of past action. With this
conviction, I have endeavored to refrain, possibly not with entire
consist ency, from emphasizing the mistakes of previous gen
erations. A work on American Finance might well viii Preface. have
a didactic purpose, but this is a history and not a treatise. In
determining the proportions of this volume, I have been obliged to
pass by many incidents of keen interest the omissions arc
necessarily far greater than the inclu sions. The result is
doubtless a loss of interest, but it is hoped that the gain from an
orderly presentation of the essential facts may be a substantial
compensation. It is impossible to include by name all of those who
have given friendly counsel, but I wish to thank in particular the
editor of this series, Professor Hart, and Professor Henry B.
Gardner, of Brown University. The former undertook a very
considerate reading of the manuscript, and without the support of
his knowledge of American history my task would have been much more
difficult. To Professor Gardner I am under great in debtedness his
learning and sound judgment have constantly stood me in good stead,
and strengthened a friendship of long standing. I also wish to make
acknowledgment to Professor Bullock, who has done pioneer work for
several periods of American finance his investigations justify the
hope that he will find opportunity to write a larger work on the
finances of our country. I am in a special way indebted tomy
colleague, Professor Currier, to Mr. S. N. D. North, and to various
officials of the Treasury Department. MASSACHUSETTS INSTITUTE OF
TECHNOLOGY, BOSTON, January, 1903. SUGGESTIONS FOR STUDENTS,
TEACHERS, AND READERS. I. Introductory Heading Political History
and Biography...
Interplay of political/economic environment and monetary affairs in
the early history of the United States
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