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Long title: An Act to amend and continue, until one month after the conclusion of the present war, the provisions contained in an act, passed in the session of parliament of the thirty-sixth and thirty-seventh years of his present Majesty, chapter ninety-one, videlicet, on the twenty second of June one thousand seven hundred and ninety-seven, for the restriction on payments of cash by the bank.
The Specie Payment Resumption Act of January 14, 1875 was a law in the United States that restored the nation to the gold standard through the redemption of previously unbacked United States Notes [1] and reversed inflationary government policies promoted directly after the American Civil War.
On the morning of August 24, 1857, the president of Ohio Life Insurance and Trust Company announced that its New York branch had suspended payments. [13] The company, an Ohio-based bank with a second main office in New York City, had large mortgage holdings and was the liaison to other Ohio investment banks.
The bank run came to a head on May 10, 1837, when banks in New York City ran out of gold and silver. They immediately suspended specie payments, and would no longer redeem commercial paper in specie at full face value. [3] A significant economic collapse followed: despite a brief recovery in 1838, the recession persisted for nearly seven years.
(Reuters) -EBay agreed to pay $59 million and upgrade compliance measures to resolve U.S. Department of Justice allegations it didn't try hard enough to stop criminals from buying devices for ...
Thanks to the independent treasury, the government has not suspended [specie] payments, as it was compelled to do by the failure of the banks in 1837. It will continue to discharge its liabilities to the people in gold and silver. Its disbursements in coin pass into circulation and materially assist in restoring a sound currency. [16]
The e-commerce giant eBay will pay $59 million in a settlement with the Justice Department over thousands of pill press machines sold on the the platform. The machines can be used to manufacture ...
EBay will pay $3 million to resolve criminal charges stemming from several of its former employees’ sending live spiders, cockroaches and a fetal pig to a Massachusetts couple who wrote a ...