The Way out of Depression

The Way out of Depression

The Way out of Depression

The Way out of Depression

Excerpt

The writer has followed with interest the apparent progress of the world toward a single gold standard ever since the question of monetary standards was a national political issue in 1896. The situation then was much similar to that which prevails today in that the annual production of monetary gold had failed to keep pace with the monetary needs of an expanding world.

At that time the desirability of reënforcing the monetary base by the restoration of silver to a position as primary money was universally recognized throughout the United States. Both the Republican and Democratic parties declared for bimetallism. Republican leaders pledged themselves to seek an international agreement for the remonetization of silver, but were unwilling to open the United States mints to silver without international support. To have done so would doubtless have led to an outward movement of gold that would have left this country, within a comparatively short time, on a single silver . . .

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.