Joint-metallism: A Plan by which Gold and Silver Together, at Ratios Always Based on Their Relative Market Values, May be Made the Metallic Basis of a Sound, Honest, Self-regulating, and Permanent Currency, Without Frequent Recoinings, and Without Danger of One Metal Driving Out the OtherG.P. Putman's sons, 1894 - 124 Seiten |
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Joint-Metallism: A Plan by Which Gold and Silver Together, at Ratios Always ... Anson Phelps Stokes Keine Leseprobe verfügbar - 2015 |
Häufige Begriffe und Wortgruppen
¹ See Appendix Annual average ANSON PHELPS STOKES appreciation of gold April Austria-Hungary average of period basis of currency bimetal bimetallic called joint-metallism caused cent cloth 75 Coinage value commodities cost of production danger debts decline in values demand deposit duction EDITORIAL ARTICLE fall fiat money final basis G. P. PUTNAM'S SONS gold and half gold and silver gold standard Government ratio half in gold honest increased issue labor Latin Union legal ratio LETTER ON JOINT Letter on Joint-Metallism lism market price medium metallic basis metallists Mint mints money metal mono monometal monometallism monometallists nations number of standards Octavo ounces parity permanent Post precious metals price of silver production of gold ratios always based relative market values Robert Giffen silver coins silver dollars Soetbeer standard of value Stokes's supply of gold tion Treasury United value of gold York York Evening Post York Tribune
Beliebte Passagen
Seite 81 - We hold to the use of both gold and silver as the standard money of the country, and to the coinage of both gold and silver without discrimination against either metal or charge for mintage...
Seite 82 - The American people, from tradition and interest, favor bimetallism, and the Republican party demands the use of both gold and silver as standard money, with such restrictions and under such provisions, to be determined by legislation, as will secure the maintenance of the parity of values of the two metals, so that the purchasing and debt- paying power of the dollar, whether of silver, gold or paper, shall be at all times equal.
Seite 84 - ... the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.
Seite 24 - I am certainly of opinion," said Mr. Webster, "that gold and silver, at rates fixed by Congress, constitute the legal standard of value in this country, and that neither Congress nor any State has authority to establish any other standard or to displace this standard.
Seite 96 - We believe the fall to be mainly due, at all events, to circumstances independent of changes in the production of, or demand for, the precious metals, or the altered relation of silver to gold.
Seite 94 - Looking then to the vast changes which occurred prior to 1873 in the relative production of the two metals without any corresponding disturbance in their market value, it appears to us difficult to resist the conclusion that some influence was then at work tending to steady the price of silver, and to keep the ratio which it bore to gold approximately stable.
Seite 95 - Nor does it appear to us a priori unreasonable to suppose that the existence in the Latin Union of a bimetallic system with a ratio of 15£ to 1 fixed between the two metals should have been capable of keeping the market price of silver steady at approximately that ratio. " The view that it could only affect the market price to the extent to which there was a demand for it for currency purposes in the Latin Union, or to which it was actually taken to the mints of those countries is, we think, fallacious.
Seite 87 - The demand for non-monetary purposes on the annual production is also preponderant in the case of gold, and very large in the case of silver. About two-thirds of the gold annually produced is taken for the arts; and if the consumption of India is included, as being either for simple hoarding or for the arts, and in no case for the purpose of circulating money, then the demand for gold for non-monetary purposes appears almost equal to the entire annual production.
Seite 85 - There can hardly be a better rule in any country, for the legal, than the market proportion, if this can be supposed to have been produced by the free and steady course of commercial principles.
Seite 81 - ... dollar unit of coinage of both metals must be of equal intrinsic and exchangeable value, or be adjusted through international agreement or by such safeguards of legislation as shall insure the maintenance of the parity of the two metals and the equal power of every dollar, at all times, in the markets and in the payment of debts; and we demand that all paper currency shall be kept at par with and redeemable in such coin. We insist upon this policy as especially necessary for the protection of...