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" The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel, which it costs less both to... "
PRINCIPLES OF THE ECONOMIC PHILOSOPHY OF SOCIETY, GOVERNMENT AND INDUSTRY - Page 356
by VAN BUREN DENSLOW - 1888
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Congressional Serial Set

United States - 1831 - 782 pages
...price not deserving consideration. Cts early and powerful advocate, Dr. Smith, states that ""the subtie of paper, in the room of gold and silver money, replaces a very expene instrument of commerce with one much less costly." The capital a disengaged, may be employed...
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