Bimetallism

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Fisk & Hornbeck, printers, 1899 - 256 ページ
 

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79 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...
78 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.
32 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.
86 ページ - that gold and silver, free from the action of a legal ratio, are like two unconnected reservoirs of water, each liable to be raised and lowered in level by various accidents. Establish a communication between these reservoirs, and then each new supply spreads itself over a double area, and each new demand is supplied with less effect upon the general level. The legal currency ratio of 15^ to 1 actually does establish a communication of this sort between the reservoirs of gold and silver in the world,...
215 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.
32 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«.
91 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.
51 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.
141 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.
75 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.

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