There is never enough gold to redeem all the currency in circulation.
More Quotes from John Buchanan Robinson:
The Massachusetts Land Bank, during Colonial times, prospered, and brought prosperity to the community, until it was forcibly suppressed by special act of Parliament.John Buchanan Robinson
It was the king's army, the king's people, the king's taxes; and he who questioned the propriety of the royal prerogative of taking from his people without return or accounting, was reckoned, and felt himself to be, a criminal, guilty of the highest crime of disloyalty.
John Buchanan Robinson
There is no other who experiences your thoughts or your feelings.
John Buchanan Robinson
Modern money is almost altogether credit money.
John Buchanan Robinson
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.
John Buchanan Robinson
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.
John Buchanan Robinson
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