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.
More Quotes from John Buchanan Robinson:
Your thoughts and emotions are yours alone.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
There is no word more generally misinterpreted than the word egoism, in its modern sense.
John Buchanan Robinson
Not an old woman that buys a paper of pins, without yielding a part of the price to the banks as interest!
John Buchanan Robinson
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.
John Buchanan Robinson
But egoism is more than this. It is the realization by the individual that he is above all institutions and all formulas; that they exist only so far as he chooses to make them his own by accepting them.
John Buchanan Robinson
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