[8] Adapted from Wesley Clair Mitchell, _A History of the Greenbacks_, Part II, The University of Chicago Press, 1903. [9] Adapted from A. D. Noyes, _Forty Years of American Finance_, pp. 7-20. G. P. Putnam's Sons, New York and London, 1909. [10] _Ibid._, pp. 21-22. [11] _Ibid._, pp. 23-31. [12] _Ibid._, pp. 44-47. [13] A. Piatt Andrew, The Essential and the Unessential in Currency Legislation, in _Questions of Public Policy_, Addresses delivered in the Page Lecture Series, 1913, before the Senior Class of the Sheffield Scientific School, Yale University, pp. 55-59. Yale University Press, New Haven, Connecticut. 1913. [14] Adapted from George Gary Eggleston, _A Rebel's Recollections_, pp. 78-107. Hurd and Houghton. Boston, 1875. CHAPTER VI INTERNATIONAL BIMETALLISM [15]... There are natural and commercial causes which may operate to produce either an incessant fluctuation in the relative value of silver and gold, or a wide and increasing divergence, from year to year, through a long period, from the ratio of exchange existing between the two metals at the commencement of the period. So far are the sources and conditions of supply of the one different from those of the other that, notwithstanding the influence of the durableness of the metals in giving steadiness of value to either by turns, and hence to the two in their relation to each other, it would be in the highest degree unreasonable to assume that the ratio of exchange between gold and silver would remain unaltered through any considerable term of years. The annual or monthly variations may take the form of oscillations, now on one side and now on the other of any historical ratio, or they may be cumulative on one side of that ratio, producing a divergence increasing from month to month, and year to year; but variations in some degree, in some direction, are to be expected under the unrestrained operation of causes influencing the demand for, or the supply of, each metal.