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THE

STANDARD OF VALUE

THE

STANDARD OF VALUE

BY

WILLIAM LEIGHTON JORDAN

FELLOW OF THE ROYAL STATISTICAL SOCIETY

MEMBER OF THE LONDON CHAMBER OF COMMERCE ; ASSOCIATE OF THE INSTITUTION
OF CIVIL ENGINEERS; FELLOW OF THE ROYAL GEOGRAPHICAL SOCIETY

MEMBER OF THE ROYAL INSTITUTION
AUTHOR OF THE OCEAN, ITS TIDES AND CURRENTS, AND THEIR CAUSES'

THE NEW PRINCIPLES OF NATURAL PHILOSOPHY' ETC.

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LONGMANS, GREEN, AND CO.
LONDON, NEW YORK, AND BOMBAY

All rights reserved

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SPRECKELS

2

PREFACE

TO

THE SEVENTH EDITION

The main point which now underlies all the questions at issue in the Battle of the Standards is the charge of attempting and the counter-charge of maintaining the establishment of a system which creates injustice between debtor and creditor. The Gold Standard Defence Association denounce those who advocate the restoration of silver to its former position in the currency as advocates of principles of fraud and robbery. The champions of silver, on the other hand, claim that they are the true representatives of the cause of justice and of honour, arrayed against mistaken and unjust principles, which triumphed in the year 1873 in the substitution of the gold for the Double Standard. They contend that the injustice of the system then inaugurated has been continuous in its action, and that the only practical way to correct this injustice, which

i Gold Standard Defence Association, Paper No. 2, p. 5; 11 and 12 Clement's Lane, Lombard Street.

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