American Eloquence, Volume 4: Studies In American Political History (1897)
History
American Eloquence, Volume 4: Studies In American Political History (1897)
Speeches, addresses, etc., American; United States -- History; United States -- Politics and government
Fifth. The responsibility of re-establishing silver in its ancient and
honorable place as money in Europe and America, devolves really on the
Congress of the United States. If we act here with prudence, wisdom, and
firmness, we shall not only successfully remonetize silver and bring it
into general use as money in our own country, but the influence of our
example will be potential among all European nations, with the possible
exception of England. Indeed, our annual indebtment to Europe is so
great that if we have the right to pay it in silver we necessarily
coerce those nations by the strongest of all forces, self-interest, to
aid us in up-holding the value of silver as money. But if we attempt the
remonetization on a basis which is obviously and notoriously below
the fair standard of value as it now exists, we incur all the evil
consequences of failure at home and the positive certainty of successful
opposition abroad. We are and shall be the greatest producers of silver
in the world, and we have a larger stake in its complete monetization
than any other country. The difference to the United States between the
general acceptance of silver as money in the commercial world and its
destruction as money, will possibly equal within the next half-century
the entire bonded debt of the nation. But to gain this advantage we must
make it actual money--the accepted equal of gold in the markets of the
world. Re-monetization here followed by general remonetization in Europe
will secure to the United States the most stable basis for its currency
that we have ever enjoyed, and will effectually aid in solving all the
problems by which our financial situation is surrounded.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account