A Strange Discovery by Charles Romyn Dake
page 43 of 201 (21%)
page 43 of 201 (21%)
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hence atmospheric air has no commercial value. There is nothing on earth
of much less service to humanity than are diamonds; yet the possession of a pound of fair-sized diamonds would make a Croesus of a beggar. The dreams of the Greenbacker are but new phases of our childhood fancies of finding a mountain of pure gold, with which we are to make the whole world happy; it is conceivable to find the mountain of gold--but, alas! what will be its value when we have found it? Take actual money, for instance. Any metal might be used as money which the world should agree to call money, provided only that the metal is not so plentiful as to make it impossible to handle because of bulk, or so scarce as to make the unit of value impalpable. The standard may even from time to time be changed, if we do not object to the enormous trouble of making the change----" "And," I remarked, as he paused for a moment, "if we do not object to the robbery of either the debtor or the creditor, one or the other." "Not at all," he replied. "I assume that the change shall be fairly made. I have said that it would be a very great inconvenience to the world, and without any benefit; it would in fact be so great a task to make the change in our money standard that it would be practically impossible to make it. But we are off the track--we were not to talk of primary money; it was of currency, or greenbacks, that you spoke. Now it puzzles you as a man of sense to conceive by what process of thought another man of sense can bring himself to advocate unlimited inflation of our currency; and yet there is a very good reason why the most sensible man may do that very thing. Of course, my dear sir, I am aware that the only honest way for a government to issue unlimited currency is to give the stuff away, and later to repudiate it. Now, sir, I need not tell one like yourself, who has studied the lives of such English |
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