Word: mcculloch
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Dates: during 1890-1899
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...invalidate this. 1. Literal interpretion of Constitution would be inadequate to needs of government. (a) Conditions of life have developed far beyond the conception of the framers. 2. Uniform tendency of history has been toward free interpretation. (a) U. S. Bank declared constitutional. (Miller on Const., p. 389, McCulloch vs. Md.; 4. Wheaton 316). (b) Internal improvements made. (Story S 1138). B. This right implied in enumerated pwers. (Pub. Opin., XVII: 331 Atty. Gen. Olney). 1. Art. I, Sect. 8, clause 15 of Constitution. C. This right is recognized by Constitutional writers. 1. Story's Commentaries...
...American Economic Association will publish very shortly, through Macmillan and Co., two important monographs: (1) Letters of Ricardo to McCulloch, lately discovered, edited and annotated by J. H. Hollander, Ph. D., of John Hopkins University; (2) Race Traits and Tendencies of the American Negro, by F. L. Hoffman...
...debt. - (2) Price of their commodities lowered: Taussig, Silver Situation, 112-115. - (d) Would place dangerous power in hands of money syndicates to influence market prices, etc. - (e) Need of more currency would lead to wild schemes for paper currency. - (f) Adoption of gold standard injured Germany: Hugh McCulloch, lecture delivered at Harvard...
...Gold is insufficient: see above I, (a) 1. - (c) Silver in relation to commodities a more stable standard than gold: Amer. Jour. Soc. Sci. XXXII, 27; Sen. Stewart in Cong. Record, XXV, App. 158-159 - (d) Silver and gold together a non-fluctuating standard: McCulloch, p. 21. - (e) Silver will eventually become standard money metal of the world. - (1) Exhaustion of gold mines. - (2) Increased use of gold in the arts: Suess, 100-101. - (f) Present suspicion of silver unjustifiable. - (1) Silver has not depreciated, but gold has appreciated: International Monetary Conference of 1892, p. 54; British Monetary Commission...
...retirement would be detrimental. - (a) It would substitute for legal tender money, that, which in times of a panic, creditors might refuse. - (b) It would simply add two more kinds of paper currency. - (1) Each new series of paper money followed by a crisis: Sumner 220. - (c) Sec. McCulloch tried to retire them and a panic ensued. - (d) In the last 16 years the government has saved 100 millions of dollars. - (e) No prospect of a surplus in the Treasury. - (f) We would come to a silver basis: Advertiser, Dec. 11. - (1) No paper of the government redeemable in gold...