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International Monetary Conferences, Their Purposes, Character, and Results

International Monetary Conferences, Their Purposes, Character, and Results

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Excerpt from International Monetary Conferences, Their Purposes, Character, and Results: With a Study of the Conditions of Currency of Finance in Europe and America During Intervening Periods, and in Their Relations to International Action

Excepting to the few who make a special study of monetary science and affairs, the extensive literature pertaining thereto, and mainly produced within half a century, is a confusing jungle of conflicting opinions, isolated facts, dogmatic arguments, and diverse conclusions. While economists discuss, governments act; and thus those who, by the exercise of their political power, largely determine the conditions of a nation's money, lacking the time, the facilities, or, perhaps, the ability to explore the jungle for themselves, are apt to be influenced by any special argument that falls under their eye, or by some plausible plea of those politically artful or financially selfish, rather than by an understanding of their own, based upon a knowledge of the practical conditions as developed by antecedent events. Even the conclusions of able and honest disputants have been frequently vitiated by the use made of events out of their chronological order, or in disregard of their historical environment, simply for the sake of reinforcing an opinion or exalting a theory.

This book has been written in the belief that much of the confusion and difference of opinion that has made the Silver Question such a vexed one has been due to misapprehensions arising from the study of particular events or facts without sufficient regard to the influences which produced them. By the application of the principle of evolution, natural science assumed a new character.

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