Money And Prosperity

Cover Money And Prosperity
Money And Prosperity
C H S Littleton
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No panic has ever been produced by lowering the cost of production of commodities.
The gold standard men are compelled to admit that the fall of general prices began the year silver was demonetized. They claim that the fall of prices is not due to the demonetization of silver, but to im- proved methods of production. One would conclude, if not otherwise informed, that the only new inven- tions and improvements in the various arts have been FALLING PRICES 85 inaugurated since silver was demoneti
...zed. There has been no period in our history as a nation that has given birth to more great inventions, improved ma- chinery, and means to reduce the cost of commodities than that between 1850 and 1873, yet general prices were steadily rising during that time. Increasing or steady prices are a most powerful incentive to induce men to work and to produce an abundance of wealth. Fewer than three per cent, of the people of the United States are benefited by falling prices.
Since silver was demonetized all of the principal agricultural staples have been declining in price.


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