THE LEGAL-TENDER ACT.

DURING the Rebellion the United States armies suffered many disasters in the field, which for the moment were felt as personal misfortunes by every loyal citizen. So strong was the public feeling of anger and astonishment, that Congress appointed committees of investigation to examine into the causes of these military failures, and subjected the conduct of the war to a searching and sometimes a severe criticism. In finance the nation suffered only one great disaster, but its effects have extended far beyond the period of the war, and are likely to be felt for an indefinite time to come. The causes of this catastrophe have not been investigated by Congress; but as the day may probably arrive when the national government will admit that the act of national bankruptcy was a calamity involving the credit of every man in whose charge the people then placed the common interests, it may be useful to point out the path which any future Congressional committee on the Conduct of the Finances will be obliged to follow in investigating the causes which led to that mis-

____________________
1
An article by Francis A. Walker and Henry Adams, in the "North American Review" for April, 1870.

-279-

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Historical Essays
Table of contents

Table of contents

  • Title Page *
  • Contents *
  • Primitive Rights of Women. 1
  • Captaine John Smith.. - Sometime Governour in Virginia, and Admirall of New England. 42
  • Harvard College. 1786-1787. 80
  • Napoleon I. at St. Domingo. 122
  • The Bank of England Restriction. - 1797-1821. 178
  • The Declaration of Paris. 1861 237
  • The Legal-Tender Act. 279
  • The New York Gold Conspiracy 318
  • The Session. 1869-1870. 367
  • Index. 413
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