Category - John Buchanan Robinson

John Buchanan Robinson

It was the king’s army, the king’s people, the king’s taxes; and he who questioned the propriety of the royal prerogative of taking from his people without return or accounting, was reckoned, and felt himself to be, a criminal, guilty of the highest crime of disloyalty.

– John Buchanan Robinson

John Buchanan Robinson

When not only gold but all commodities are available for the redemption of the paper currency, its volume is limited only by the value of all the wealth of the country, and it can never become insecure up to this limit.

– John Buchanan Robinson

John Buchanan Robinson

Paper currency has hitherto been regarded with suspicion, as insecure.

– John Buchanan Robinson

John Buchanan Robinson

Accordingly, when the supply of gold runs short, the security behind the notes is diminished, the loaning of notes is restricted or suspended, and the panic follows.

– John Buchanan Robinson

John Buchanan Robinson

There is never enough gold to redeem all the currency in circulation.

– John Buchanan Robinson

John Buchanan Robinson

At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.

– John Buchanan Robinson

John Buchanan Robinson

Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price.

– John Buchanan Robinson

John Buchanan Robinson

In this way, the charge that the bank makes for the use of its notes – the interest – is a continual and universal tax upon all the members of the community.

– John Buchanan Robinson

John Buchanan Robinson

The business of a bank is to lend money; which amounts, nowadays, to lending credit.

– John Buchanan Robinson

John Buchanan Robinson

Modern money is almost altogether credit money.

– John Buchanan Robinson

John Buchanan Robinson

Large sums were paid for the use of money, because the available amount of gold and silver was far less than was needed to carry on the commercial transactions of the times.

– John Buchanan Robinson

John Buchanan Robinson

In precisely the same way money is often hired, and the hire paid for the use of it is called Interest.

– John Buchanan Robinson

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