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An Honest Dollar; with a Chapter on "The Fall of Prices".
An Honest Dollar with a Chapter on The Fall of Prices Author:Elisha Benjamin Andrews Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: II. BIMETALLISn. The cessation of silver purchases by the United States Government has not settled the Money Question. It has but cleared the ground for a ra... more »tional discussion thereof. The people who suppose the present status of the world's hard money to be " final," will find themselves as much mistaken as did those who cried " finality " touching Slavery Legislation after the compromise of 1850. The advocates, all about us, of scientific bimetallism, who for a long time have held their tongues lest they should be classed with the textit{soi- disant bimetallists wishing the United States alone to open mints to silver, may now speak freely; and they will need to do this in order that monetary science here, instead of halting or going backward as it is now in some danger of doing, may advance and attain the development which it has in Europe. Hon. Bertram W. Currie, the distinguished London banker, remarked to the writer not long since, that all the British political economists "seemed to be tinged with bimetallism." The statement is quite true. In Great Britain the field of academic battle over thestandards is securely possessed by the bimetallists. Even among " practical " Britons, the business men, bankers and industrial statisticians, bimetallists form a strong and growing section, perhaps a majority. Of the theorists who still champion monometallism, a few reside on the Continent of Europe, but most in the United States. Even here they have somewhat modified the tenor of their statements. Not one of them, I think, longer denies that gold has recently risen in value, or that considerable inconveniences have proceeded from this. Not one, I also think, wishes that gold should supplant silver full money all over the world. Further, " no economist of reputation will lend his...« less