Economy News

from AIER

Established 1999

New England, USA

Subscribe   Donate

“Sound Money the Safeguard of Labor”

“This government is now on a gold basis; that is to say, the nation stands pledged to redeem all its debts or obligations in gold. This is not the result of arbitrary legislation on our part, but a necessity imposed by the demands of trade and commerce. Foreign purchasers of American products pay in gold,…

•

“This government is now on a gold basis; that is to say, the nation stands pledged to redeem all its debts or obligations in gold. This is not the result of arbitrary legislation on our part, but a necessity imposed by the demands of trade and commerce. Foreign purchasers of American products pay in gold, and foreign creditors demand settlements in the same metal.
 
How would the free and unlimited coinage of silver at the ratio of sixteen to one affect our business, and especially our industrial conditions?” Read more. 

“Sound Money the Safeguard of Labor”

Rowland B. Mahany
The North American Review, Vol. 163, No. 476 (Jul., 1896), pp. 98-100.

Share This Article

Post on Facebook

Post on X

Print Article

Related

Headline Inflation Surged in March, but Core Remained Muted

Apr 10

March’s inflation spike looks alarming, but it's driven entirely by energy shocks. Strip that out and the trend looks largely unchanged.

Could a Rule-Bound Fed Constrain Congressional Spending?

Mar 26

The Fed’s lack of clear rules makes it vulnerable to outside pressure. A commitment to price stability could force Congress to confront its own excesses.

The Fed Sees Higher Inflation Coming — and May Cut Rates Anyway

Mar 23

Inflation is well above two percent, but rate paths haven't moved. The disconnect suggests a shift in how much inflation the Fed is willing to tolerate.