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Aaron L abuses of credit advantage amount banks Beloit College benefit bills of exchange borrower cent coin combined commerce common compensation competition consumed consumption cost demand desires destruction of value direct taxes distribution division of labor duction effect employed employers exchange EXERCISES farmer functions give gold and silver gratifications Hence hundred Illustrate important increase industry instrument invested involves jobber Joseph Alden kinds of labor labor and capital loans machinery manufacturer means medium of exchange ment metals minor premise mutual nations nature operations paid paper money parties payment persons Political Economy principles production profits promissory notes purchasing power rate of interest remuneration salary saving secure seigniorage sell skill specie standard of value supply supply and demand surplus taxation tends term things tion trade United-States utility varied wages wealth wheat
Сторінка 120 - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as Little as possible, over and above what it brings into the public treasury of the state.
Сторінка 120 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Сторінка 120 - Every tax ought to be levied at the time, or in the manner, in which it is most likely to be convenient for the contributor to pay it.
Сторінка 120 - A direct tax is one which is demanded from the very persons who, it is intended or desired, should pay it. Indirect taxes are those which are demanded from one person in the expectation and intention that he shall indemnify himself at the expense of another: such as the excise or customs.
Сторінка 120 - The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor, and to every other person.
Сторінка 190 - July 14, 1890, are legal tender for all debts, public and private, except where otherwise expressly stipulated in the contract. United States notes are legal tender for all debts, public and private, except duties on imports and interest on the public debt.
Сторінка 36 - He unroofs the houses, and ships the population to America. The nation is accustomed to the instantaneous creation of wealth. It is the maxim of their economists, "that the greater part in value of the wealth now existing in England, has been produced by human hands within the last twelve months.