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Articles 1 - 4 of 4
Full-Text Articles in Law and Economics
The Effect Of Inflation On Private Contracts: United States, 1861-1879, John P. Dawson, Frank E. Cooper
The Effect Of Inflation On Private Contracts: United States, 1861-1879, John P. Dawson, Frank E. Cooper
Michigan Law Review
The Northern inflation coincided almost exactly in its early stages with the inflation in the South, and was produced by the same basic factor - a budgetary deficit due to war expenditure. The financial mobilization of the North was handicapped at the outset by a deficit inherited from the previous administration and by an impaired national credit. The prompt response of the Northern banks enabled the Treasury to overcome this initial handicap and to finance the greatly increased expenditure through the early months of the war. How long orthodox methods of borrowing would have sufficed has been ever since a …
Contracting By Reference To Price Indices, John P. Dawson, James Will Coultrap
Contracting By Reference To Price Indices, John P. Dawson, James Will Coultrap
Michigan Law Review
The commodity price index number has been defined as a "figure which shows the average percentage change in the prices of a number of representative goods from one point of time to another." In the preceding article it has been argued that the use of the index number in private contracts as a method of expressing stable values is not prohibited by the gold-clause resolution of June 5, 1933; that in the decisions of the United States Supreme Court sustaining this legislation there is nothing to indicate that such contracts would run counter to the Government's policies in the control …
The Gold Clause Decisions, John P. Dawson
The Gold Clause Decisions, John P. Dawson
Michigan Law Review
The gold clause decisions of February 18, 1935, have already taken their place among the great landmarks of American constitutional history. They have given a partial answer to some basic questions of constitutional law. Directly they have disposed of claims amounting to a total of many billions of dollars. But their further implications, both for public and private law, are of even greater magnitude; it may be many years before these wider implications are more fully understood.
The Effect Of Inflation On Private Contracts: United States, 1861-1879, John P. Dawson, Frank E. Cooper
The Effect Of Inflation On Private Contracts: United States, 1861-1879, John P. Dawson, Frank E. Cooper
Michigan Law Review
The American Civil War provides ample material for studying the legal consequences of currency depreciation. The sudden demands of war on government budgets made it necessary in both North and South to issue a large volume of paper money, which produced a general rise in prices, a premium on gold, and all the other indices of major monetary inflation. American history had already illustrated the dangers in the use of unstable monetary standards and in too rapid an expansion of the monetary supply. The period of the Civil War is of peculiar interest to lawyers, however, because the record of …