Читать книгу Readings in Money and Banking - Chester Arthur Phillips - Страница 49

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The reader who goes back to the debates upon the legal-tender bills will find that most of the unfortunate consequences that followed their enactment were foretold in Congress—the decline of real wages, the injury done creditors, the uncertainty of prices that hampered legitimate business and fostered speculation. But a majority of this Congress were ready to subject the community to such ills because they believed that the relief of the treasury from its embarrassments was of more importance than the maintenance of a relatively stable monetary standard.