First-[Third, Final] Report of the Royal Commission Appointed to Inquire Into the Recent Changes in the Relative Values of the Precious Metals; With Minutes of Evidence and Appendices Volume 1-2

First-[Third, Final] Report of the Royal Commission Appointed to Inquire Into the Recent Changes in the Relative Values of the Precious Metals; With Minutes of Evidence and Appendices Volume 1-2

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1887 edition. Excerpt: ...do say is that a contraction of the currency, or an appreciation of the currency spread over a long period of years, and causing a long continued fall in prices, as has been the case in Great Britain since 1873, is very disastrous to a country, and causes great suffering to nearly all classes in the country. I say nothing more than that. 5906. If we are to look for evidence of what is called appreciation of gold, that is to say, to a fall in prices due to a scarcity in gold, we ought to look beyond this country, ought we not? I am now speaking without reference to the question of depression. I am speaking only of the evidence of the fact that prices have fallen in consequence of a scarcity of gold. If that is so we ought to find that, ought we not, in all gold-using countries?--Yes, I think so, and I think in all gold-using countries, as far as I know, there has been a great fall of prices. 5907. Do you know whether there has been a great fall in prices in America?--Yes, I do. 5908. But I mean one that has not been recovered from?--Yes, prices in America are much lower now than they were 10 or 15 years ago. 5909. Are wages lower now in America than they were?--I could not answer that question. 5910. Because such evidence as is open to us in the commercial newspapers shows that they are quite as high as they ever were, and the people are as well employed?--Yes, the people are well employed just now, and the rate of wages is good, but the pric- of cotton, with which I am more immediately connected, has been very low in America for the lase three years. The price of corn we all know has been so low that the cultivators have been hardly able to go on growing wheat. 5911. Do you know anything at all about the price of land in America?--I am not...show more

Product details

  • Paperback | 754 pages
  • 189 x 246 x 38mm | 1,320g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236627016
  • 9781236627018