RICHARD HILDRETH


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Richard Hildreth

The currency of any country, whether it be coin or bank-notes, cannot be increased beyond the mercantile wants of that country, without producing a depreciation in the parts which compose the currency.
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This is the first major history of banks written in the United States.

Richard Hildreth

Trade will no longer lie at the mercy of ignorant and reckless politicians, or at the mercy, no less to be deprecated, of a few purse-proud, domineering, dictatorial bank directors, who care not what mischief they do if they can but perpetuate their own exclusive privileges.
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If there would be free competition in banking as opposed to monopolies in each area, This is the first major history of banks written in the United States. At the time, there was hardly any competition amongst banks. Each bank had a do facto or official monopoly in its area. In many communities of America, this is still true, but competition in banking has reached almost all high density areas of the country.

Richard Hildreth

[Describing England:] In the year 1796, the alarm of an apprehended French invasion reached a great height. The [government cabinet] ministers were suspected, and not without reason, of fomenting this alarm, for the sake of strengthening their popularity, and keeping up the national frenzy against the French republicans, which was now beginning to flag.
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This is the first major history of banks written in the United States. He uses the example of England to show that politicians sometimes create and exaggerate national dangers in order to maintain public support.

Richard Hildreth

It was formerly a common expedient with kings and states to debase the coin, that they might the easier pay their debts in a depreciated currency;
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This is the first major history of banks written in the United States.

Richard Hildreth

Our respectable legislators will make a most alarming fuss about every bank that is chartered, while manufacturing companies shall pass muster by the dozen, without a single question being asked or answered. Those who strain at a gnat, are marvelously adroit at swallowing a camel.
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This is the first major history of banks written in the United States.

Richard Hildreth

There is a means of producing a uniform currency throughout the United States, and thereby greatly facilitating the commercial intercourse of the country, perfectly consistent with free competition in banking, and infinitely preferable to the resort to a National Bank.
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This is the first major history of banks written in the United States.

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Richard Hildreth
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Richard Hildreth
  • Born: June 28, 1807
  • Died: July 11, 1865
  • Nationality:
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Biography

Richard Hildreth, was an American journalist, author and historian. He is best known for writing his six-volume History of the United States of America covering 1497–1821 and published 1840-1853. Historians consider it a highly accurate political history of the early Republic, but with a strong bias in favor of the Federalist Party and the abolition of slavery.