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MONEY

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THE SUCCESSIVE STEPS IN THE GROWTH OF MONEY TRACED
FROM THE DAYS OF BARTER TO THE INTRODUCTION OF
THE MODERN CLEARING-HOUSE, AND MONETARY
PRINCIPLES EXAMINED IN THEIR RELATION

TO PAST AND PRESENT LEGISLATION

BY

WILLIAM BROUGH

Individuality is left out of their scheme of government.
The State is all in all.-BURKE.

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G. P. PUTNAM'S SONS

NEW YORK

LONDON

27 WEST TWENTY-THIRD STREET

24 BEDFORD STREET, STRAND
Tbc knickerbocker Press

COPYRIGHT, 1894

BY

WILLIAM BROUGH
Entered at Stationers' Hall, London

BY G. P. Putnam's SONS

Tbe knickerbocker Press, Acw Rocbelle, M. P.

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BI-METALLISM AND MONO-METALLISM

20-57

Silver and gold as an equivalent tender—The Gresham law

-Mutilation of the coinage in England—Why cheap money

expels money of higher value from the circulation-Influ-

ence of Jew money-changers in raising the monetary stand-

ard-Clipping and sweating-Severe punishment of these

offences—Value of the guinea-Mono-metallism succeeds

bi-metallism— The mandatory theory of money—The law of

natural displacement-A government's legitimate service in

regard to money—Monetary principles applied to bi-metal-

lism-Effects of the demonetization of silver in 1873— The

Latin Union-Effect of legislative interference with money

— The per-capita plan—The Bland Act—The Sherman Act

- Present difference in value between a gold and a silver
dollar-Effects of a change to the silver standard - No
levelling of fortunes, but an increased disparity.

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