Silver and Gold (Classic Reprint)

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Excerpt from Silver and Gold I agree with you in thinking that the depreciation of Silver and the unsettled state of the market for that metal contribute largely to the present condition of trade, for not only does the low price of Silver inflict heavy losses on the Government of India and upon all who have fixed incomes payable in Silver, but the unsettled state of the market imparts, through the unusual fluctuation of the Exchanges, a character of speculation if not (as Mr. Stanhope says in a speech lately delivered) of gambling, to the business of all those in Gold-using countries who have dealings with the dwellers in countries that use Silver: they can make no just estimate of what they have to receive for their goods, the thing that they do receive is for them a commodity, just as wool is, or bark, or silk, or tea - neither more nor less. I have been answered as to this point, that the merchant does know what he has to receive, for remittances being made in bills, it is all a matter of exchange, which must of necessity be subject to fluctuations. But I reply that it is precisely because it 25 a matter of exchange that my statement is correct. 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.