That which is most favorable to the nation is most favorable to the market value of the bond; and that which is unfavorable to the nation is unfavorable also to the market value of the bond, rendering its negotiation and sale more difficult and protracted.
Sumner asserts that the interests of the nation and the market value of bonds are interconnected, influencing each other.
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Their existence is a disgrace to civilization; for it implies the common consent of nations to the Arbitrament of War, as regulated by these laws.
The subterfuges of the politician cannot escape it.
According to recent calculations, its annual cost is not less than a thousand millions of dollars.
Rather would I arouse you to renewed and incessant exertion.
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