Show ° BIMETALISM I kl a s Alexander Hamilton in his report on the Mint in 1701 said t To annul either of tho metals as Nji t money is to abridge the quantity of circulating cir-culating medium and is liable to nil the Is objections which arise from a comparison i of the benefits of a full with tho evils of a jetP scanty circulation 4 + u Thomas Jefferson in a letter to Alexander Alex-ander Hamilton in January 1702 said The Mint must stand on both metals C p Henry Clay said r t The highest wages and the highest l intercut foi money are the hest condi r + tions in which a country can be placed Emil do Lnveleye said id 8 After 1773 wu witness II 1 worse phenomenon 4 phe-nomenon Silver in expelled gold becomes be-comes scarce prices fall Industry los j is ing money limits its operations the spirit of enterprise declines Capital I little demanded becomes a glut the rato of interest falls The connection of cause and effect becomes as evident hero as in J t he period of expansion p t Mr yens Minister of Finance Netherlands Neth-erlands said I According to my profound conviction there is but a single relllelyJI iR the tnlofition bimetallism I Air Wolowfiki before tho French Mon Nary i Convention 1809 l said vi The mini total of the precious metals r la reckoned at fifty f milliards onehalf gold and one liaR sliver If bj a stroke ti of the pen j they suppress one of these C metals in the monetary Hirwto they r double the demand for the other metal to the ruin of all debtors I ir jP M Rouland Governor of the Hank of I France said la Wo have not to do with idle theories Tho two moneys hUN coexisted since the origin of human society The coexist co-exist because the two together arc necessary nec-essary by their quantity to minuet 1 the h needs of circulation Sir Archibald Alison in his Hibtur of Europe says u The two greatest events that havo 1 occurred oc-curred In the history of mankind Imo I fuan dlrfvMy hroMdbt l nlinut hro hv n unrv I also contraction and expansion of tho circulating t rr cir-culating medium of society The fall of tho Komiui Empire HO long ascribed In Ignorance to slavery heathenism and moral corruption vat in reality brought 1 r about lit a decline in tilt slice and gold ininei of Spain and Greece Columbus led the way in the career of I renovation j when he spread his sails across the Atlantic he bore mankind and its fortunes in his bark The annual supply I of tho precious metals for the use of tho globe was tripled j before a century had expired the prices of every species of produce wore quadrupled The I I weight of debt and taxes insensibly wore off under the influence of that prodigious Increase In tho renovation of Industry the relations of society wero changed tine weight of feudalism cast ofT the rights of man estahlishedTllt Sitiei D > llnr |