Book Description

Excerpt from Resumption and the Double Standard: Or, the Impossibility of Resuming Specie Payments in the United States Without Restoring the Double Standard of Gold and Silver, a Speech Delivered in the Senate of the United States, April 24, 1876 Were their quantitative relation unknown or changing always in one direction - for example, was silver always becoming cheaper or gold dearer - a double standard would prove inconvenient. But such is not the fact. The relation of these metals to one another for many cen turice has been very constant, the pivotal point being 155 and the oscillations - until within the past year, and chiefly in consequence of the demonetization of silver in Germany - quite inconsiderable. This constancy Of rela tion is due to the stock of precious metals already in the world to the proportion of gold to silver needed for the world s convenience, to the vicissitudes of production, to the occurrence of gold and silver in the same ore matrices, and to other physical circumstances which will be adverted, to hereafter. 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.