The Speeches, Addresses and Writing of Cassius M. Clay, Jr
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The Speeches, Addresses and Writing of Cassius M. Clay, Jr

The Speeches, Addresses and Writing of Cassius M. Clay, Jr


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About the Book

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...On the other hand, a currency that unduly rises in value hurts the debtor class; equally impairs the obligation of contracts; lowers prices; checks enterprise and development; and has a chilling and depressing influence on business. The currency, or standard that remains constant in value hurts no one; gives confidence to business; and contributes in the greatest degree to prevent panics and to develop and increase the wealth and prosperity of the country. So it is always the highest wisdom to adopt that standard of value which varies least in the course of time. The gold standard, as we have it at present, with a plentiful but limited coinage of silver, and with a sufficient issue of paper money, all based on and equal to gold, is in my opinion the best attainable financial system. To leave this system, to go to the results that would be brought by the free and unlim ited coinage of silver at the ratio of 16 to 1, would be ruinous. I freely confess that, were I to believe that the free coinage of silver at the ratio of 16 to 1 would appreciate the value of the silver dollar up to and equal to the gold dollar, I would earnestly advocate that policy. It is because--and this is the whole gist of the matter--that I most earnestly believe it would not, but would fall far short of such a mark, that I think such coinage would be ruinous and disastrous in many ways to the country. N 0 honest man, I take it, would want to change suddenly the standard of value fifty, twenty-five, or any large appreciable per cent. For such change would imply the impairing the obligation of contracts to an incredible extent, both on the part of the government and on the part of the private citizen, a bad breach of national faith and loss of credit, and incalculable...


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Product Details
  • ISBN-13: 9781230861357
  • Publisher: Theclassics.Us
  • Publisher Imprint: Theclassics.Us
  • Height: 246 mm
  • No of Pages: 52
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 1230861351
  • Publisher Date: 12 Sep 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 109 gr


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