“This government is now on a gold basis; that is to say, the nation stands pledged to redeem all its debts or obligations in gold. This is not the result of arbitrary legislation on our part, but a necessity imposed by the demands of trade and commerce. Foreign purchasers of American products pay in gold, and foreign creditors demand settlements in the same metal.
How would the free and unlimited coinage of silver at the ratio of sixteen to one affect our business, and especially our industrial conditions?” Read more.
“Sound Money the Safeguard of Labor”
Rowland B. Mahany
The North American Review, Vol. 163, No. 476 (Jul., 1896), pp. 98-100.
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