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Rational Money a National Currency Intelligently Regulated in Reference to the

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United States 1880 100. 5 1886 80. 4 England 1880 92. 2 1886 73. 3 Hamburg 1880 91. 1 1886 74. 8 France 1880 79. 2 1886 69. 3 1860-1891.
Maximum. Year. Price.
United States 1864 172. 9 England 1864 144. 8 Hamburg 1864 137. 8 France 1864 128. 6 1886 69. 3 Minimum. Year. Price.
86. 7 80. 7 92. 5 76. 4 1879 1879 1878 1879 Minimum. Year. Price. 80. 4 73. 3 74. 8 1886 1886 1886 1886 What would we think of a measure that would be 172 inches long in 1864 and then shrink to 80 inches in 1886, and to 60
... inches in 1897? If we took the maximum and min- imum actual prices instead of gold prices, the contrast would be greater still, a contrast of 280 to 60 in round numbers.
THE BEST MONEY. 113 What would we think of a yard stick that would expand to more than four times its former length, so that a piece of cloth that measured a yard by its test a generation ago would measure less than a quarter of a yard to-day only 8 inches at the lowest point this year? No doubt some creditors are willing to receive 4 yards for every one they lent, but what is the effect on the debtor?


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