Silver And Gold Or Both Sides of the Shield
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Seventh. The fall of silver was not expected, but Germany adopted the gold standard, and the various modern improvements in mining were rapidly increas- ing the product of silver. We had not done anything that influenced the market.
Eighth. We were approaching the resumption of specie payments, and the popular instinct that it would be well to be thoroughly equipped with both money metals was correct. Specie meant both gold and silver coin, and we could not resume with what we had not.
Ninth. T...here had been an immense increase of in- debtedness issues of securities in the paper money period, and of course there should not be removed one of the metals constituting " coin " for the discharge of MUBAT HALSTEAD. 367 obligations when we attained the specie that is, the gold and silver basis.
Tenth. Upon this argument and the belief that the purchase of silver by the government would advance its price, the policy of coining two millions a month, at least, of silver dollars, was established, and its dises- tablishment did not follow until we had broken all records in coining silver, heaping it up by the hundred millions, and had done it all the while on a falling market.
What to read after Silver And Gold Or Both Sides of the Shield?
You can find similar books in the "Read Also" column, or choose other free books by White Trumbull to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Seventh. The fall of silver was not expected, but Germany adopted the gold standard, and the various modern improvements in mining were rapidly increas- ing the product of silver. We had not done anything that influenced the market.
Eighth. We were approaching the resumption of specie payments, and the popular instinct that it would be well to be thoroughly equipped with both money metals was correct. Specie meant both gold and silver coin, and we could not resume with what we had not.
Ninth. T...here had been an immense increase of in- debtedness issues of securities in the paper money period, and of course there should not be removed one of the metals constituting " coin " for the discharge of MUBAT HALSTEAD. 367 obligations when we attained the specie that is, the gold and silver basis.
Tenth. Upon this argument and the belief that the purchase of silver by the government would advance its price, the policy of coining two millions a month, at least, of silver dollars, was established, and its dises- tablishment did not follow until we had broken all records in coining silver, heaping it up by the hundred millions, and had done it all the while on a falling market.
What to read after Silver And Gold Or Both Sides of the Shield?
You can find similar books in the "Read Also" column, or choose other free books by White Trumbull to read onlineMoreLess
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