John Buchanan Robinson Gold Quotations

Large sums were paid for the use of money, because the available amount of gold and silver was far less than was needed to carry on the commercial transactions of the times.

Accordingly, when the supply of gold runs short, the security behind the notes is diminished, the loaning of notes is restricted or suspended, and the panic follows.

At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.

There is never enough gold to redeem all the currency in circulation.

When not only gold but all commodities are available for the redemption of the paper currency, its volume is limited only by the value of all the wealth of the country, and it can never become insecure up to this limit.