Pennsylvania, colonial and federal; a history, 1608-1903Editor: Howard MJenkins . h had depreciated into its constituent rags, the farmermust coin his acres of land into hard dollars, the manufacturerhis mill, and the merchant his store. These would be still reallyworth as much as ever tliey were, but the bond, the pound offlesh, must be paid, no matter at what sacrifice. The Governor tlien proceeded to describe the good effects ofchartering tliat bank by furnishing the people with a currency ofunquestioned soundness. To have checked a circulation thenhealthy, to have changed a medium then gen
Pennsylvania, colonial and federal; a history, 1608-1903Editor: Howard MJenkins . h had depreciated into its constituent rags, the farmermust coin his acres of land into hard dollars, the manufacturerhis mill, and the merchant his store. These would be still reallyworth as much as ever tliey were, but the bond, the pound offlesh, must be paid, no matter at what sacrifice. The Governor tlien proceeded to describe the good effects ofchartering tliat bank by furnishing the people with a currency ofunquestioned soundness. To have checked a circulation thenhealthy, to have changed a medium then general, or to have de-prived ourselves of jjenefits so manifest, would have been tlie verylieight of madness. Speculation, as we have said, had now set in \ery stock was one of the most popular speculative Ritner remarked, and truly, The more you increase bankstock, the greater will be the number of stock-jobbers, the morewild will be stock speculation, and the greater will be the amountof bank facilities in the hands of those operators on the best 268. John Peter Gabriel Muhlenberg Clergyman; colonel, brigadier-general, major-general in Revolutionary war; vice-president ofSupreme Executive Council. 1787-1788; memberof Congresses. 1789-1791. and especially for this work from a can-vas in Independence Hall. Philadelphia Ritners Administration interests of tlic cnniiminil\. It i> Iniik- \i> aitcinpl id clmkc witliincrease of food a tliroat wliicli seems, like tlial of the boa con-strictor, to stretch to tlie size of any victim; or to satiate an appe-tite that grows faster than tlie supply. in his message for iS^f) tlie (iovernor dwelt elaborately onthe speculation then prevalent. He declared that it was the greatmalady of the times, that desire which is now so ravenous, ofacquiring wealth without labor. Submission to the old demo-cratic spirit of the State yet restrains the open avowal of thedoctrine that money is pow
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Keywords: ., bookauthorjenkinsh, bookcentury1900, bookdecade1900, bookyear1903
