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This tory burch outlet measure caused much murmuring, for the speculating classes of society, who are always the most noisy, liked not to be deprived of so many opportunities of profit as a vacating currency afforded theq They appeared to have had influence enough to prevent the act from being effective in some of the colonies; for we find that ten years after, another act with the same title was passed by the British Parliament.The two acts together seem to have reduced the paper bs of credit to a very small amount; for Pelatiah Webster, a respectable merchant of Philadelphia, estimates the whole circulating cash of the thirteen States, just before the war, at twelve mion dollars, or perhaps, not more than ten mion hard dollars in value. "Not more than half, or at most three-fifths of the circulating cash in this State (Pennsylvania,) was paper; and I am well convinced that tory burch shoes that proportion was not exceeded in the other States where paper tory burch flats money was circulated."This provincial paper may be regarded as a species of Government script which by an act of tyranny was made a legal MBT tender. It fluctuated in value, according to the changes in the credit of the Government by which it was issued, and the amount thrown into the market. Being more liable to great depreciation, it was inferior to Bank paper as money: MBT Shoes UK but its character was better understood by the people. They knew the authority of the Government, and the resources of the Government. When they were injured, they knew by whom they were injured, if not to what extent. In one respect the provincial paper money system had an effect directly opposite to that of the present Banking system. Through the present Banking system, dealings on credit are carried to an extent beyond that in which they are useful, and in which they become highly pernicious. Through the MBT Shoes old paper money system, confidence was destroyed, and credit prevented from spreading to its natural extent.The profits gained by the Governments by the issues of paper tory burch sale money, enabled them to diminish the regular taxes; but this gain was insignificant, and the evils produced by the system were incalculably great. All that honest men lost by highwaymen, house-breakers, foot-pads, and horse-thieves, was trifling in amount when compared with that which they lost through the instrumentality of the paper money of the different colonies.
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This tory burch outlet measure caused much murmuring, for the speculating classes of society, who are always the most noisy, liked not to be deprived of so many opportunities of profit as a vacating currency afforded theq They appeared to have had influence enough to prevent the act from being effective in some of the colonies; for we find that ten years after, another act with the same title was passed by the British Parliament.The two acts together seem to have reduced the paper bs of credit to a very small amount; for Pelatiah Webster, a respectable merchant of Philadelphia, estimates the whole circulating cash of the thirteen States, just before the war, at twelve mion dollars, or perhaps, not more than ten mion hard dollars in value. "Not more than half, or at most three-fifths of the circulating cash in this State (Pennsylvania,) was paper; and I am well convinced that tory burch shoes that proportion was not exceeded in the other States where paper tory burch flats money was circulated."This provincial paper may be regarded as a species of Government script which by an act of tyranny was made a legal MBT tender. It fluctuated in value, according to the changes in the credit of the Government by which it was issued, and the amount thrown into the market. Being more liable to great depreciation, it was inferior to Bank paper as money: MBT Shoes UK but its character was better understood by the people. They knew the authority of the Government, and the resources of the Government. When they were injured, they knew by whom they were injured, if not to what extent. In one respect the provincial paper money system had an effect directly opposite to that of the present Banking system. Through the present Banking system, dealings on credit are carried to an extent beyond that in which they are useful, and in which they become highly pernicious. Through the MBT Shoes old paper money system, confidence was destroyed, and credit prevented from spreading to its natural extent.The profits gained by the Governments by the issues of paper tory burch sale money, enabled them to diminish the regular taxes; but this gain was insignificant, and the evils produced by the system were incalculably great. All that honest men lost by highwaymen, house-breakers, foot-pads, and horse-thieves, was trifling in amount when compared with that which they lost through the instrumentality of the paper money of the different colonies.
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