Word: vol
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Dates: during 1890-1899
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Best general references: M. D. Harter, A Plan for a Permanent Bank System, Forum, vol. XII, p. 186; C. F. Dunbar, The Bank Note Question, Quart. Jour. Econ., vol...
...present currency system is bad, and should be abolished. (a) Inadequate in volume. (1) Rapid growth of population and trade. (2) No inducement to national banks to issue notes. Quart. Jour. Econ., vol. 1, p. 414. (b) Inelastic. (1) No provision for expansion in financial crises. (2) No provision for small centres. C. F. Dunbar, Quart. Jour. Econ., 1892, p. 63. (c) Dangerous. (1) The proportion of gold to certificates, greenbacks, and treasury notes is too small, and growing smaller. Taussig, Silver Situation, p. 54. (2) Further in-crease of government issues would make matters worse...
...Issue of state bank notes is desirable. (a) Before the war many state banks issued sound notes. (b) State bank-notes could be made safe. (1) The government would accept for taxes only notes sufficiently secured. Harter, Forum, vol. XII. (2) Inflation is preventable by a tax on circulation above a fixed maximum...
...Gold the best standard. Taussing, The Silver Situation, p. 124. (a) It is most convenient. Sidgwick, Foster. R., Vol. 46, p. 480. (b) It is most stable. Goschen in Journal of Institute of Bankers, May, '83, pp. 277-279. (c) It is so recognized. Chicago Tribune...
...gold supply is amply sufficient. (a) The output is not declining. Taussig, Pop. Sci. Mo., Sept. '93, p. 582. (b) The use of credit is increasing. Laughlin, Q. J. E., Vol. I, pp. 325-326. (c) Debtors are not burdened. Goschen, Q. J. E., V. I, pp. 329-337. (d) Money wages are rising though prices are falling. Taussig, Silver Situation...