Eartha
Member
- Joined
- Oct 8, 2009
- Member Type
- Student or Learner
- Native Language
- Chinese
- Home Country
- China
- Current Location
- China
Dear all,
How should I understand the underlined in the sentence below?
what does "successive intervals" and "paper credit" refer to respecitvely?
Why the stock gambling is demoralizing?
Thanks in advance.
[FONT=宋]“[/FONT]It has been a history of extravagant expansions in the business of the country, followed by ruinous contractions,” said President James Buchanan in 1857. “At successive intervals the best and most enterprising men have been tempted to their ruin by excessive bank loans of mere paper credit, exciting them to extravagant importations of foreign goods, wild speculations, and ruinous and demoralizing stock gambling.”
How should I understand the underlined in the sentence below?
what does "successive intervals" and "paper credit" refer to respecitvely?
Why the stock gambling is demoralizing?
Thanks in advance.
[FONT=宋]“[/FONT]It has been a history of extravagant expansions in the business of the country, followed by ruinous contractions,” said President James Buchanan in 1857. “At successive intervals the best and most enterprising men have been tempted to their ruin by excessive bank loans of mere paper credit, exciting them to extravagant importations of foreign goods, wild speculations, and ruinous and demoralizing stock gambling.”
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