The Omnipotence of Silver
The Omnipotence of Silver
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In our eReader you can find the full English version of the book. Read The Omnipotence of Silver Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Omnipotence of Silver
What reading level is The Omnipotence of Silver book?
To quickly assess the difficulty of the text, read a short excerpt:
Is it not clear, then, that when their crops fall 33 per cent, in value and 50 per cent, in debt-paying power, there was nothing for them to do but go to the wall?
There is much said about the hard times being due to the con- traction of the money of the country. On the other hand, the gold standard advocates point to the fact that money is plenty and the rates of interest unprecedently low to those who can give security for it. Both sides are right.
In 1873 most farmers were in debt and paying... interest. But there was a great deal of money in circulation among the people, and the farmer was able to pay his expenses, his interest, and to have something over to apply upon the principal of the debt.
But in that year the fall in the prices of their products began, and that fall just about averaged two per cent, per annum up to 1890. If they cleared 12 per cent, in 1873, which is above the average, is it not clear that by 1879 there was no more profit for their labor? Of course, the mortgages had not been paid, so it is certain that all that they produced above a bare living gravitated directly to the strong boxes of the interest-gatherers.
What to read after The Omnipotence of Silver?
You can find similar books in the "Read Also" column, or choose other free books by Charles C Goodwin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Is it not clear, then, that when their crops fall 33 per cent, in value and 50 per cent, in debt-paying power, there was nothing for them to do but go to the wall?
There is much said about the hard times being due to the con- traction of the money of the country. On the other hand, the gold standard advocates point to the fact that money is plenty and the rates of interest unprecedently low to those who can give security for it. Both sides are right.
In 1873 most farmers were in debt and paying... interest. But there was a great deal of money in circulation among the people, and the farmer was able to pay his expenses, his interest, and to have something over to apply upon the principal of the debt.
But in that year the fall in the prices of their products began, and that fall just about averaged two per cent, per annum up to 1890. If they cleared 12 per cent, in 1873, which is above the average, is it not clear that by 1879 there was no more profit for their labor? Of course, the mortgages had not been paid, so it is certain that all that they produced above a bare living gravitated directly to the strong boxes of the interest-gatherers.
What to read after The Omnipotence of Silver?
You can find similar books in the "Read Also" column, or choose other free books by Charles C Goodwin to read onlineMoreLess
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