Silver in Its Relation to Industry and Trade: The Danger of Demonetizing it

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Lovell printing and publishing Company, 1880 - Bowen, Francis, 1811-1890 - 132 pages

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Page 128 - He that walketh righteously, and speaketh uprightly; he that despiseth the gain of oppressions, that shaketh his hands from holding of bribes, that stoppeth his ears from hearing of blood, and shutteth his eyes from seeing evil; He shall dwell on high: his place of defence shall be the munitions of rocks: bread shall be given him; his waters shall be sure.
Page 132 - ... and they desire that ere long there may be adequate co-operation to obtain that result. They cannot object to the statement ' that the selection for use of one or the other of these two metals, or of both, simultaneously, should be governed by the special position of each State...
Page 7 - First. Into the change which has taken place in the relative value of gold and silver ; the causes thereof, whether permanent or otherwise ; the effects thereof upon trade, commerce, finance, and the productive interests of the country, and upon the standard (of) value in this and foreign countries; Second.
Page 130 - ... ratio. On the other side, does bi-metallism offer so many disadvantages that it can be said that mankind have made a mistake in the concurrent use of the two metals during the entire course of the ages...
Page 8 - ... 3 to 1 ; and the conclusion seems justified that a review of the relations of the metals in times past shows that the fall in the price of silver is not due to any excessive production as compared with gold.
Page 132 - That it is necessary to maintain in the world the monetary functions of silver as well as those of gold, but that the selection for use of one or the other of the two metals, or of both simultaneously, should be governed by the special position of each State or group of states.
Page 133 - It is in the nature of things for the " cheaper metal for the time being to drive out the dearer. " Therefore, when the silver standard drives the gold out of " circulation, it leaves us nothing to compare our international " coin with except the silver standard to which it would have no " exact relation ; and so I ventured to say in answer to the " question, that it would be impossible to hold out hopes of " assimilation [that is, of coinage with France] until France has " made up her mind to give...
Page 130 - Much of the prejudice against silver is due to the fact that it has been falling as compared to gold. Let it begin to rise and it will become more acceptable as a money metal. Goschen, at the Paris Conference, very aptly stated the condition when he said : At present there is a vicious circle. States are afraid of employing silver on account of the depreciation, and the depreciation continues because States refuse to employ it.
Page 72 - ... a double standard. To attempt to do so is as absurd as it would be to de.clare by law that two clocks should both be the standard for measuring time, though, as everybody knows, no two clocks can be made which shall keep perfect time with each other.
Page 10 - European nations, is to propose to it a disastrous race, in reducing the prices of labor and commodities, in aggravating the burdens of debt, and in the diminution and concentration of wealth, in which all the contestants will suffer immeasurably, and the victors even more than the vanquished.

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