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All that Cambon, the great leader of finance at that time, could secure was a clause claiming to protect the poor, to the effect that this demonetization should not extend to notes below a hundred francs in value; and it was also agreed that any of the notes, large or small, might be received in payment of taxes and for the confiscated property of the clergy and nobility.
The supposed wealth of many consisted in the bonds of these roads and of other newly created concerns, as mining and manufacturing corporations. Thus the entire business of the country was on a basis of inflation, and when contraction came by the resumption of specie payments and the demonetization of silver, disaster was inevitable.
Here and there lay some discarded piece of mining machinery, rust-eaten and battered now, washed down inch by inch from the higher hill where it had been abandoned when the demonetization of silver struck, like a rapier, into the hearts of grubbing men, years before.
And there's only one thing I'm afraid of. There's so much of it that if we fail to control the output it will bring about the demonetization of gold." "And you tell me " Carson broke off, speechless and amazed. "And glad to have you. It will take a year or two, with all the money we can raise, to drain the lake. It can be done. I've looked over the ground.
He seemed, for a moment, to descend to a somewhat lower plane than that upon which he had been standing; but, as we came out into the open and walked up and down the avenues in the park, he resumed his discussion of greater things. During this, he went at considerable length into the causes which led to the partial demonetization of silver in the empire; whereupon Mr.
If you don't think so put a 3-line "ad" in your morning paper that you want to employ a man for any purpose, and offer ONE-HALF the salary that such service would have commanded before the demonetization of silver, and see how quickly your office will be jammed!
Then some high-falutin' Congressman got the idea they didn't want to do that any more, and he began to talk. Well, one morning, I telephoned down, and silver 'd dropped to eighty-five. The next morning it went to seventy. The House or the Senate, I 've forgotten which, had passed the demonetization bill. After that, things dragged along and then I telephoned down again.
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