The Financial and Monetary Situation in the United States (Classic Reprint)

The Financial and Monetary Situation in the United States (Classic Reprint)

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Excerpt from The Financial and Monetary Situation in the United States

A few days only separate us from the time when the citizens of the United States will be called upon to elect a new President, and although every American Presidential election brings with it its stirring agitation, we must go back to the year 1860, when the great Civil War was impending, to find anything to equal the passionate struggle at present in progress in the. United States between the Republican and Democratic parties.

One of them is for "sound money," but backed by a strong protectionist programme; the other for the free coinage of silver. Whichever party carries off the victory at the polls, it is obvious that strongly protective legislation, or the adoption of the free coinage of silver will have an important influence upon the economic future of the United States; and as the commercial relations of that country with Europe are very extensive, more especially so with England, I have thought it expedient to make a special study of the financial and monetary situation in America. It has been a long and arduous, but very fascinating study; the numerous documents and statistics I have had to consult, were at times almost bewildering. I propose, however, to lay before you to-night the result of my inquiry, and the inferences I have been able to draw therefrom.

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