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                                   A
                          NEW BANKING SYSTEM:

                                  THE
                     NEEDFUL CAPITAL FOR REBUILDING
                          THE BURNT DISTRICT.

                          BY LYSANDER SPOONER.

                                BOSTON:
                       SOLD BY A. WILLIAMS & CO.

                         135 WASHINGTON STREET.

                                 1873.



        Entered according to Act of Congress, in the year 1873.
                          BY LYSANDER SPOONER,
       in the office of the Librarian of Congress, at Washington.


                               Printed by
                           WARREN RICHARDSON,
                           112 Washington St




CONTENTS.


                                                                  PAGE
  CHAPTER I.--A New Banking System,                                  5
  CHAPTER II.--Specie Payments,                                     12
  CHAPTER III.--No Inflation of Prices,                             21
  CHAPTER IV.--Security of the System,                              35
  CHAPTER V.--The System as a Credit System,                        41
  CHAPTER VI.--Amount of Currency Needed,                           48
  CHAPTER VII.--Importance of the System to Massachusetts,          59
  CHAPTER VIII.--The True Character of the "National" System,       70
  CHAPTER IX.--Amasa Walker's Opinion of the Author's System,       75




The reader will understand that the ideas presented in the following
pages admit of a much more thorough demonstration than can be given in
so small a space. Such demonstration, if it should be necessary, the
author hopes to give at a future time.

  _Boston, March, 1873._




CHAPTER I.

A NEW BANKING SYSTEM.


Under the banking system--an outline of which is hereafter given--the
real estate of Boston alone--taken at only three-fourths its