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adoption America amount annual appears arts average Bank become bimetallism cause cent charges circulation coinage coined commodities compared condition Conference consideration consumed cost currency debts demand demonetization depreciation dollar economic effect England equal established estimates Europe exchange existence exported fact fall fixed fluctuations force foreign France free coinage French give gold and silver gold standard Government held imported increase industries influence interest International labor legal tender legislation less maintain manufactures measured Mexican Mexico mines mint monetary nearly never one-half ounce party period precious metals premium present probably production Professor prosperity quantity question quote raise ratio reason received relative value remain result rise says shows silver bullion silver money supply things tion trade true United unlimited value of gold value of silver volume of money wages worth
81 ページ - 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...
142 ページ - ... Gentlemen, I need hardly remind you that the stock of silver in the world is estimated at some thousands of millions, and if this conference were to break up without arriving at any definite result there would be a depreciation in the value of that commodity which it would be frightful to contemplate, and out of which a monetary panic would ensue, the far-spreading effects of which it would be impossible to foretell.
80 ページ - If, as the most reliable statistics affirm, there are nearly seven thousand millions of coin or bullion in the world, not very unequally divided between gold and silver, it is impossible to strike silver out of existence as money without results which will prove distressing to millions and utterly disastrous to tens of thousands.
34 ページ - ... greater demand for silver than for gold to be exported to India; if gold were lowered only so as to have the same proportion to the silver money in England which it hath to silver in the rest of Europe there would be no temptation to export silver rather than gold to any other part of Europe.
217 ページ - Origin, or Cause, of Value. It is DEMAND. Value is not a quality of an object, but an affection of the mind. The sole Origin, Source, or Cause, of Value is HUMAN DESIRE. When there is a Demand for things, they have Value : when the Demand increases (the Supply being supposed the same), the Value increases ; when the Demand decreases, the Value decreases : and when the Demand altogether ceases, the Value is altogether gone.
34 ページ - Mint, the advantage of 9|rf. in a guinea, or above, may have been sufficient to bring the great quantity of gold which hath been coined in these last fifteen years, without any foreign silver. " Some years ago the Portugal moiders were received in the West of England at 28«.
93 ページ - The crop of gold has been unusually large ; the increase in the supply has caused a fall in its value ; the fall in its value has led to its being substituted for silver ; a mass of silver has thus been disengaged from purposes which it was formerly employed to serve, and the result has been that both metals have fallen in value together; the depth of the fall being diminished as the surface over which it has taken place has been enlarged.
53 ページ - Alterations, therefore, in the cost of production of the precious metals, do not act upon the value of money except just in proportion as they increase or diminish its quantity; which cannot be said of any other commodity.
143 ページ - It is a great mistake,' said he, 'to suppose that the adoption of the gold valuation by other States besides England will be beneficial. It will only lead to the destruction of the monetary equilibrium hitherto existing, and cause a fall in the value of silver, from which England's trade and the Indian silver valuation will suffer more than all other interests. grievous as the general decline of prosperity all over the world will be.
77 ページ - We think that in any conditions fairly to be contemplated in the future, so far as we can forecast them from the experience of the past, a stable ratio might be maintained if the nations we have alluded to were to accept and strictly adhere to bimetallism, at the suggested ratio.