Money, Silver, and FinanceAmerican News Company, 1896 - 242 pages |
From inside the book
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Page 4
... basis and to force France to drift upon the silver basis . Then too , a government which should be the quickest to reduce 1 Discovered by Sir Thomas Gresham ( 1519-1579 ) . the quantity of its silver coin in circula- tion , 4 Money ...
... basis and to force France to drift upon the silver basis . Then too , a government which should be the quickest to reduce 1 Discovered by Sir Thomas Gresham ( 1519-1579 ) . the quantity of its silver coin in circula- tion , 4 Money ...
Page 23
... basis for shrewd guessing , are yet consid- ered inexplicable , at least by one of our greatest political economists . According to Mr. David A. Wells , 1 if I draw a correct inference , everybody is cognizant of the undulatory ...
... basis for shrewd guessing , are yet consid- ered inexplicable , at least by one of our greatest political economists . According to Mr. David A. Wells , 1 if I draw a correct inference , everybody is cognizant of the undulatory ...
Page 34
... basis , which Mr. Cowperthwait calls an immovable foundation , ' we found ourselves measuring prices by a commodity for which the legal demand had suddenly and largely increased . We also found that its value , either as a commodity or ...
... basis , which Mr. Cowperthwait calls an immovable foundation , ' we found ourselves measuring prices by a commodity for which the legal demand had suddenly and largely increased . We also found that its value , either as a commodity or ...
Page 35
... basis , are groundless , although we may decide to in- crease very largely our use of silver . There is a wide and safe margin between this in- creased use of silver and free coinage . Silver mono - metallism is repudiated even by the ...
... basis , are groundless , although we may decide to in- crease very largely our use of silver . There is a wide and safe margin between this in- creased use of silver and free coinage . Silver mono - metallism is repudiated even by the ...
Page 36
... basis to gold alone . Then such was the enor mous legal demand for gold that its value . as a commodity was advanced , and hence its value as money . Prices then began to fall , as they were regulated by this appre- ciated gold . This ...
... basis to gold alone . Then such was the enor mous legal demand for gold that its value . as a commodity was advanced , and hence its value as money . Prices then began to fall , as they were regulated by this appre- ciated gold . This ...
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Common terms and phrases
advance afford to pay Ameri American securities Austria-Hungary average balance of trade Bank of France bankers benefit bills of exchange bonds buyers cause certificates checks Clearing House Congress cost currency debtors debts decline in prices demand demonetization depreciated depression employers Europe European exportation of merchandise fact fall in prices farm farmers force foreign exchange free coinage gold basis important increase India industry issue kind of money labor Leech London low prices machine market price ment metal movements nations obtain ounce panic paper money payment price of silver profit quantity quinine rate of interest rate of wages real money reduce rupee sell silver bullion silver coins silver dollars Silver Party silverites theory thirty per cent tion Treasury ultimate redemption United United States Mint United States Notes value of silver volume of money wage-earners wampum wheat workmen worth York
Popular passages
Page 224 - The Republican party is unreservedly for sound money. It caused the enactment of the law providing for the resumption of specie payments in 1879; since then every dollar has been as good as gold. We are unalterably opposed to every measure calculated to debase our currency or impair the credit of our country. We are, therefore, opposed to the free coinage of silver except by international agreement with the leading commercial nations of the world, which we pledge ourselves to promote, and until such...
Page 226 - We demand the free and unlimited coinage of both silver and gold at the present legal ratio of 16 to 1, without waiting for the aid or consent of any other nation.
Page 215 - ... the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.
Page 226 - We are unalterably opposed to monometallism which has locked fast the prosperity of an industrial people in the paralysis of hard times. Gold monometallism is a British policy, and its adoption has brought other nations into financial servitude to London.
Page 225 - Constitution names silver and gold together as the money metals of the United States, and that the first coinage law passed by Congress under the Constitution made the silver dollar the monetary unit and admitted gold to free coinage at a ratio based upon the silver-dollar unit.
Page 225 - We declare that the act of 1873 demonetizing silver without the knowledge or approval of the American people has resulted in the appreciation of gold and a corresponding fall in the prices of commodities produced by the people; a heavy Increase In the burden of taxation and of all debts, public and private ; the enrichment of the money-lending class at home and abroad; the prostration of industry and impoverishment of the people.
Page 226 - ... industrial people in the paralysis of hard times. Gold monometallism Is a British policy and its adoption has brought other nations into financial servitude to London. It Is not only un-American but antiAmerican, and it can be fastened on the United States only by the stifling of that spirit and love of liberty which proclaimed our political independence In 1776 and won It in the war of the revolution.
Page 224 - We are therefore opposed to the free coinage of silver except by international agreement with the leading commercial nations of the world, which we pledge ourselves to promote, and until such agreement can be obtained, the existing gold standard must be preserved. All our silver and paper currency must be maintained at parity with gold, and we favor all measures designed to maintain inviolably the obligationsof the United States, and all our money, whether coin or paper, at the present standard,...
Page 225 - WE DECLARE THAT THE ACT OF 1873, DEMONETIZING SILVER, WITHOUT THE KNOWLEDGE OR APPROVAL OF THE AMERICAN PEOPLE, HAS RESULTED IN THE APPRECIATION OF GOLD AND A CORRESPONDING FALL IN THE PRICES OF COMMODITIES PRODUCED BY THE PEOPLE, A HEAVY INCREASE IN THE BURDEN OF TAXATION AND OF...
Page 31 - The price of our surplus wheat determines tho price of the whole wheat-crop of the United States. So that the monetary dislocation has already cost our farming population, who number nearly one-half the total population of the United States, an almost incomputable sum, a loss of millions upon millions of dollars every year, a loss which they will continue to suffer so long as Congress delays to stop the silver purchase and by that act to compel an international redress of the monetary dislocation.