"Paper currency" Quotes from Famous Books
 ... prevented. In all former revulsions the blame might have been fairly attributed to a variety of cooperating causes, but not so upon the present occasion. It is apparent that our existing misfortunes have proceeded solely from our extravagant and vicious system of paper currency and bank credits, exciting the people to wild speculations and gambling in stocks. These revulsions must continue to recur at successive intervals so long as the amount of the paper currency and bank loans and discounts ...
— A Compilation of the Messages and Papers of the Presidents - Section 4 (of 4) of Volume 5: James Buchanan • James D. Richardson
... by torchlight, their extensive warehouses were sacked, and all their stores were forcibly sold in the public marketplace to the best bidder: the plundered merchants were paid the amount of the sale in assignats, in a paper currency which then bore an enormous discount, and shortly afterwards retained only the value of the paper upon which the national note was written. In short, in a few hours an honourable family, nobly allied, were despoiled of property to the amount of 25,000l. sterling. ...
— The Stranger in France • John Carr |
