Book Description

Excerpt from Government Loans on Real Estate: Speech of Hon. Leland Stanford, of California, in the United States Senate, March 10, 1890 In process of time gold and Silver came into use for this purpose of equalizing exchange, and to-day, when stamped by responsible governments, these metals have a value as money far beyond any possible value they might have were they only used in the arts. But it is obvious that their value as legal tender depends as much on the Government stamp as does the paper which is stamped by the Government and made legal tender. Money becomes valuable as it stimulates industry and facilitates the exchange of the products of man's labor. Property itself is valuable according to the uses to which it is applied. Thus, supposing a man's wages were a dollar a day, $100 would employ one hundred men one day but could the product of the labor of those hundred men be immediately utilized, the $100 might give employment to a hundred men every workday in the year. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.