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Our Currency

Our Currency

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1062.5 руб.
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Описание
Excerpt from Our Currency: The Reign of Panics

Prof. Bonamy Price, who fills the Chair of Political Economy in the University of Oxford, arrived in this country on one of the Saturday steamers. The Professor issued a book on the Problems of Currency in 1869, which has become one of the standards on that perplexing problem. Then, and since, he has been in the habit of devoting to it many of his most careful lectures in the University, and his position there has enabled him to impress his views largely upon British statesmen. In order to obtain his opinions on the currency question as now presented to the people of the United States, a representative of The Tribune called upon him Wednesday. The Professor expressed his mind with great freedom, and the substance of the dialogue, which will be found of special importance, is herewith given:

Q. What do you think of the currency of the United States?

A. Simply that it is a shocking bad currency. But mind, if a currency is thoroughly convertible I don't think it is of great importance that there should ho a large stock of gold. Provided the currency is issued by an issuer who is perfectly safe, thoroughly responsible for the debt, the public won't ask gold in exchange for his notes. They would rather have the notes. In Scotland at this moment a one-pound note is distinctly preferred to a sovereign.

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