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Treasury Department, the representative of the Rothschilds, at
Berlin, Herr Bleichrbder (a man since celebrated as the financial
adviser of Prince Bismarck), said to me that if things went
smoothly in the United States for a couple of years, he had no
doubt his house would be willing to take two hundred millions of
our bonds at five per cent. Remember that this conversation
occurred less than two months after the surrender of Lee, and that
this clearsighted financier anticipated the exact operations of the
syndicate, which did not take place till more than four years
afterward. The reception of the veto at the West shows how sadly
misrepresented that vast and powerful section of our country has
been in respect to inflation. The great constituency of repudiators
who have frightened so many Western Congressmen out of all
sincerity of opinion or action on the finances, is found not to
exist. The Western farmer has proved a better political economist
than his representatives. He is beginning at last to understand,
that a section of country which sells its great staples at prices
fixed in hard-money countries cannot longer afford to encourage the
maintenance of a currency which adds largely to the price of all it
has to buy. Having, in fact, returned to a specie basis in its own
commerce, the West is above all other sections interested in
forcing the whole country back to the same standard. How to return
to specie payments is, of course, a most difficult problem; but if
all the country were agreed, it would not be difficult to take
steps in that direction. The example of France in her recent
troubles is worthy of careful study and of imitation. No such
burdens were ever so successfully borne; no such difficulties ever
so quickly surmounted. Two things have chiefly contributed t...
General Books LLC
|Country of origin:
American Social Science Association
||246 x 189 x 5mm (L x W x T)
||Paperback - Trade
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