Money, Silver, and FinanceAmerican News Company, 1896 - 242 pages |
From inside the book
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Page 6
... period since the discovery of the Californian supply , ' and the belief that all gold - mines , together , cannot be sufficiently prolific to affect the value of gold , have made gold the standard of value for great commercial nations ...
... period since the discovery of the Californian supply , ' and the belief that all gold - mines , together , cannot be sufficiently prolific to affect the value of gold , have made gold the standard of value for great commercial nations ...
Page 23
... period of over - confidence . " Neither can it be conceived how periodical changes in prices can result from any possible law of nature , unless it can be shown that such laws exist 1 Recent Economic Changes . 23 and operate with ...
... period of over - confidence . " Neither can it be conceived how periodical changes in prices can result from any possible law of nature , unless it can be shown that such laws exist 1 Recent Economic Changes . 23 and operate with ...
Page 25
... periods , but almost equally obvious . Supply and demand are never completely adapted to each other , but each of them from time to time in excess , leads presently to an excess of the other . Farmers who have one season produced wheat ...
... periods , but almost equally obvious . Supply and demand are never completely adapted to each other , but each of them from time to time in excess , leads presently to an excess of the other . Farmers who have one season produced wheat ...
Page 26
... periods of perhaps many months . On these again come others having a week or two's duration . And were the changes marked in greater detail , we should have the smaller undulations that take place each day , and the still smaller ones ...
... periods of perhaps many months . On these again come others having a week or two's duration . And were the changes marked in greater detail , we should have the smaller undulations that take place each day , and the still smaller ones ...
Page 32
... period , the annual shrink- age in the price received by the farmers for cereals during the latter period was about $ 600,000,000 . It can be seen by an examination of the United States statistics that for the five years 1885-1889 , as ...
... period , the annual shrink- age in the price received by the farmers for cereals during the latter period was about $ 600,000,000 . It can be seen by an examination of the United States statistics that for the five years 1885-1889 , as ...
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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.