A New Banking System: The Needful Capital for Rebuilding the Burnt District (Classic Reprint) - Softcover

Excerpt from A New Banking System: The Needful Capital for Rebuilding the Burnt District

It would scarcely be extravagant to say that it is capable of furnishing ample capital for every deserving enterprise, and every deserving man and woman, within the State; and also for all such other enterprises in other parts of the United States, and in foreign com merce, as Massachusetts men might desire to engage in.

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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Excerpt from A New Banking System: The Needful Capital for Rebuilding the Burnt District

Under the banking system - an outline of which is hereafter given - the real estate of Boston alone - taken at only three-fourths its value, as estimated by the State valuation - is capable of furnishing three hundred millions of dollars of loanable capital.

Under the same system, the real estate of Massachusetts - taken at only three-fourths its estimated value - is capable of furnishing seven hundred and fifty millions of loanable capital.

The real estate of the Commonwealth, therefore, is capable of furnishing an amount of loanable capital more than twelve times as great as that of all the "National" Banks in the Stated; more than twice as great as that of all the "National" banks of the whole United States ($353,917,470); and equal to the entire amount ($750,000,000, or thereabouts) both of greenback and "National" bank currency of the United States.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.