A similar episode, the obverse of this, occurred when the Bank of England resumed specie payments in the early '20's.
Mr. Fessenden said the true principle of this bill was, "that as soon as it can be done with safety, Congress means that we shall get back to the old system of specie payments.
We have had two general suspensions of specie payments, the last at a time of profound peace.
The result of the suspension of specie payments in England was, that the notes of the Bank of England became in fact a legal tender and the standard of the currency.
I am now brought to the last branch of this discussion, in which all the others are absorbed: I mean the necessity of specie payments, or, in other words, the necessity of coin in the place of inconvertible paper.
During the forty years it existed, under the two charters, we had no general suspension of specie payments, as at present.
On the next day, the same step was taken by the banks of Boston and the vicinity, and the example was followed by all the banks south of New York, as they received intelligence of the suspension of specie payments in that city.
The general suspension of specie payments by the banks, beginning I know not where, and ending I know not where, but comprehending the whole country, has produced wide-spread ruin and confusion through the land.
On the 28th February the same gentlemen made another report on measures, "in contemplation of the resumption of specie payments by the banks of the city of New York, on or before the 10th day of May next.
Although I have nothing to do with it, the continued suspension of specie payments, which I consider as a continued unnecessary violation of the public faith, occupies my thoughts more than any other subject.
The third question relating to the greenbacks was that of the resumption of specie payments.
It was not advisable to expand the greenbacks because legislation had already limited their amount and because such action would unfavorably affect the approaching resumption of specie payments.
He elaborated the ideas contained in his previous remarks on the currency, displaying with great force the evils of irredeemable paper, and the absolute necessity of a sound currency based on specie payments.
Congress could not regulate the state banks, but they could force them to specie payments by refusing to receive any notes which were not paid in specie by the bank which issued them.
He had taken up his ground as the champion of specie payments and of the liberal interpretation of the Constitution, which authorized internal improvements.
In January 1817, delegates from the banks of New York, Philadelphia, Baltimore and Virginia met in Philadelphia and agreed to a general and simultaneous resumption of specie payments.
He was perfectly aware of his supreme fitness for the direction of the Treasury, and he declined with reluctance, because he was disturbed by the suspension of specie payments.
On the contrary, it is the Secretary's firm belief that by no other path can the resumption of specie payments be so surely reached and so certainly maintained.
How the public debt is to be paid or specie payments resumed is not so important as that a plan should be adopted and acquiesced in.
Whilst the question of specie payments is in abeyance the prudent business man is careful about contracting debts payable in the distant future.
The preservation of the public credit and the resumption of specie payments, so successfully attained by the Administration of my predecessors, have enabled our people to secure the blessings which the seasons brought.
The Republican party was sounder than the Democratic on the resumption of specie payments and in the advocacy of a correct money standard, but Hayes had by no means all of his own party at his back.
It was time for some affirmative action, for among other threatening conditions the net gold in the Treasury had fallen to the lowest figure since resumption of specie payments in 1879.
The above list will hopefully provide you with a few useful examples demonstrating the appropriate usage of "specie payments" in a variety of sentences. We hope that you will now be able to make sentences using this group of words.
