Word: systemizer
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History of Protective Legislation. II. 1820-1832. The American System. Mr. F. W. Taussig. Sever...
President Robinson of Brown strongly condemns Harvard's elective system. He says emphatically that "he deprecates the tendency in American colleges to become weak imitations of Scotch and German universities...
...virile mind to follow them. They are taught as principles to be adjusted by the minds that receive them to the situations in which they may subsequently find themselves. Probably neither Prof. Perry, nor Prof. Sumner, nor Prof. Dunbar, would advocate such a revolution in our tariff system as the adoption of absolute free trade. But free trade is the only legitimate rationale of the science, and in spite of natural obstructions it is the duty of all society to lean toward it, even though it may never be able to attain that economic ideal...
...Laughlin delivered a very able and interesting lecture last night before a large audience, on "The Sub-Treasury System." The lecturer traced the growth of the present system from that formerly in vogue, and afterwards set forth in clear light the defects that now embarrass it. The undesirable relation of the Secretary of the Treasury with the money market, brought about by the act of 1864, in which it is enacted that the banks shall not be depositories for receipts for customs, and which, therefore, forces the treasury to hold in its vaults large amounts of specie, was discussed...
...shown how the money market thus rested almost entirely in the control of one man, the minister of finance, a fact which must necessarily condemn the system, aside from the evils which arise in the money market on account of this. As a remedy, Dr. Laughlin would have the deposit of specie, obtained by the government from its customs duties, deposited with the New York banks on the security of the government bonds. That the banks would even be willing to pay a small interest for the privilege was clearly demonstrated. As to the security after the payment...