Betsy Gaskins (Dimicrat), Wife of Jobe Gaskins (Republican): Or, Uncle Tom's Cabin Up to DateHood, W. I. (William I.)
General
Betsy Gaskins (Dimicrat), Wife of Jobe Gaskins (Republican): Or, Uncle Tom's Cabin Up to Date
Hood, W. I. (William I.)
Gold; Interest; Money; Paper money -- United States; Populism
THE following is a carefully prepared collection of quotations from the
writings and speeches of eminent statesmen, jurists, financiers and
economists, ancient and modern, foreign and American. It will be found
not only interesting and instructive to the casual reader, but of
extreme value to the student for reference:
_Alexander Hamilton_ (report on the mint, 1791): “To annul the use of
either of the metals as money is to abridge the quantity of the
circulating medium. It is liable to all the objections that arise from a
comparison of the benefits of a full with the evils of a scanty
circulation.”
_Benjamin Franklin_, April 3, 1792 (Jared Sparks, page 255): “Want of
money in a country reduces the price of that part of its products which
is used in trade. A plentiful currency will occasion the trading produce
to bear a good price.”
Page 185 of his autobiography (speaking of his pamphlet on “The Nature
and Necessity of a Paper Currency,” for the purpose of increasing the
circulation): “It was well received by the common people in general, but
the rich men disliked it, for it increased as well as strengthened the
clamor for more money. The utility of this currency by experience became
so evident as never to be much disputed, so that it grew soon to be
£55,000, and in 1879 to £80,000, since which it rose to £350,000, trade,
buildings and inhabitants all the while increasing.”
_Daniel Webster_: “A contraction of the currency, even if not sudden,
contracts business, discourages enterprise and restrains the commercial
spirit. A sudden contraction aggravates these circumstances.”
Public-domain text, read in full here on John Shaqi.
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