The Silver Question How the Measure of Value is Changed An Address At the An
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There is abundant evidence that General Grant, who signed the bill, did not know that silver was demonetized by it. Mr. Kelley, of your State, who, in 1872, was chairman of the Committee on Coinage, Weights and Measures, stated on the floor of the House, in my hear- ing, that no such thing was talked of or proposed to his knowledge. Still, somebody knew it. Mr. Sherman, of Ohio, had charge of the bill in the Senate and was chairman of the Finance Committee. He undoubtedly knew that the bill in ...effect established the gold stand- ard, but did he understand that the effect would be to increase the value of gold itself and with it all debts, public and private ? If he did he was guilty of an act worse than treasonable. 1 do not believe he did. Mr. Sherman, like many others, was at that time, unfortu- nately imbued with the notion that gold constituted a fixed and invariable standard of value, and that if silver and all other kinds of money were destroyed it would not affect the value of gold.
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To quickly assess the difficulty of the text, read a short excerpt:
There is abundant evidence that General Grant, who signed the bill, did not know that silver was demonetized by it. Mr. Kelley, of your State, who, in 1872, was chairman of the Committee on Coinage, Weights and Measures, stated on the floor of the House, in my hear- ing, that no such thing was talked of or proposed to his knowledge. Still, somebody knew it. Mr. Sherman, of Ohio, had charge of the bill in the Senate and was chairman of the Finance Committee. He undoubtedly knew that the bill in ...effect established the gold stand- ard, but did he understand that the effect would be to increase the value of gold itself and with it all debts, public and private ? If he did he was guilty of an act worse than treasonable. 1 do not believe he did. Mr. Sherman, like many others, was at that time, unfortu- nately imbued with the notion that gold constituted a fixed and invariable standard of value, and that if silver and all other kinds of money were destroyed it would not affect the value of gold.
What to read after The Silver Question How the Measure of Value is Changed An Address At the An?
You can find similar books in the "Read Also" column, or choose other free books by A J Adoniram Judson Warner to read onlineMoreLess
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