In this manner the currency, while sustaining its high quality, has been vastly expanded; so that the precise currency (counting checks) circulating within the United States to-day is maybe one hundred times what it was in 1845. Banks and using checks also save the lack of price gold arising from shipwreck and different accident, and, by storing it quietly in vaults, save the loss by abrasion which might occur if it had been actually used in business. Fifty years since comparatively little enterprise was accomplished through banks. It's therefore troublesome to imagine that gold has appreciated fifty per cent, or to some other extent, within the face of this excellent and continuous production. But essentially the most tangible and stable proof that may be found on the subject lies probably in the historical past of the manufacturing of gold. However this could also be, we cannot turn to any respected authority which does not show that a big enhance of wages has occurred during the previous fifty years in every civilized country.

Hyperinflation might match and even exceed the event that occurred in 1923 Weimar Germany. This Frankfurt Parliament declared the black-red-gold because the official colours of Germany and handed a law stating its civil ensign was the black-purple-yellow tricolour. The quantity principle of money discovered its finest object lesson in Germany after the primary World conflict. If, now, money is getting scarce, and if, as our silver friends declare, the amount of money regulates its worth, then interest must be three or four times as high as we find it. And but, with locomotive whistles reaching nicely-nigh each ear in the nation, from lines of railroads having a mileage of almost one hundred and seventy thousand in the United States, our free-silver buddies ignore their existence, and, on the premise of London prices in former occasions, construct up a purely imaginary farmers' paradise in contemporary America. On page 174 of the Report of the Director of the Mint for 1894 is a table giving a press release of the annual product of gold from the invention of America.

The annual product of gold grew to become practically twenty times what it had been: and this fee of production has not only been substantially maintained, but is now displaying a speedy increase. Only a few days since I read in a newspaper of the city in which I live a desk displaying that the salaries of teachers in the general public colleges had had a steady common enhance throughout the previous four years; and the increase was not confined to anyone 12 months, however continued gradually by way of the whole period. The evidence afforded by wages exhibits either that the cash customary has not risen, as claimed, or price gold that the working courses have acquired an astounding increase of wages. While I do not claim that the fall of curiosity, which has taken place in Europe as well as America, absolutely proves that the worth of money has not risen, I do think it superb proof of the actual fact; and it certaormBoundaryAZjCqUgQWeX010hw
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