Price, the amount of money received for anything.
Wealth, what can be exchanged for money.
Property, the right of ownership.
Capital, anything that may be so used as to result in a profit.
Credit, result of confidence and trust; creates a debt, and is the right to demand payment.
Seventh: Land or Government credit is unfit as a basis for money or currency.
Eighth: Our Colonial experience proved that land and Government credit were unfit as a basis for money or currency.
Ninth: Our United States Notes again demonstrated the fact that Government credit should never be used as a basis of legal tender money. Tonight we are to discuss Reserves, which are the protection or guarantee of credits granted or debts created.
Is that a correct definition of reserves?
Mr. Banker: Uncle Sam, I don't think anyone could give a better one.