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HISTORY OF THE SCIENCE OF MONEY : A STUDy
OF GREAT PHILOSOPHICAL WORKS ON
MONEY AND Coin AGE . - - • I5 I

Nicole Oresme, the Fourteenth-Century Political
Economist, Author of Traictie de la Première
Inzention des Monmoies.
Nicholas Copernicus, the Astronomer and Re-
former of Coinage, Author of Monete Cudende
A’atio.
Wolowski's Admirable Annotated Edition of
These Great Treatises. Paris, 1864.
Views of Bacon, Locke, Newton, etc., etc.
Macleod's Bimetalism. London, 1894.
The Difficulty with Bimetallism in 1873.

Page QUoTATIONS FROM ORESME AND CoPERNICUs SHOWING THEIR WONDERFUL GRASP OF

Mon ETARY PRINCIPLEs . - - . 168
That They Saw that Gold and Silver Coins
should Always Bear Substantially the Same
Ratio to Each Other as Their Bullion

Values.
That They Tried to Accomplish This by Re-
coinages when Market Values Changed.

CoNCLUSION . - - - e e . I72

That This Ratio can be Maintained Conveniently
by Having a Standard Silver Coin of the
Same Weight as a Standard Gold Coin, and
Simply Changing, when Necessary, the
AVumber of These Silver Coins to be the
Just and Legal Equivalent of the Gold Coin.
That Thus Silver can be Used Equally with Gold.

PART IV. THE APOTHEOSIS OF CREDIT - - . 187

OBJECTIONS ANSWERED AND HONEST LEGISLATION DEMANDED . . . e e . Ig?

PART V.

SARATOG A DEBATE - - - - . 209 LETTERs To Springfield Republican • . 218 AFTER THE ELECTION, WHAT 2 . - , 229

INIDEX . - - - - - e • 235

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ADVERTISEMENT OF THE - FOURTH EDITION.

The favor with which this book has been received indicates that, notwithstanding the uncompromising attitude of parties who are striving to use the currency question for political advantage, the people are studying it, and are seeking some fair and reasonable solution.

This work is based upon original research, and contains pertinent historical and statistical matter, with references to and quotations from the principal authorities on the science of money; also a complete Index. The statistical tables have been brought down to date of latest report of the Director of the Mint, etc.

The author believes that most of the present depression in trade, agriculture, and other industries is traceable to ignorance of the history and science of money, and to attempts to retry unscientific experiments; and he opposes both Monometallism and Bimetallism at any fixed empirical ratio. He proposes that the mints be opened to both the precious metals at their market values when they are presented together in quantities of equal value, and that joint certificates, payable half in gold and half in silver, be issued by the Treasury, to be legal

tender for all debts contracted after a fixed future

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date. He claims that the true economic ratio would
thus soon be determined, and would then very
seldom change, and that debtors and creditors
would not be affected by such change, as the actual
transactions would be made in Legal-Tender Joint
Certificates; and that any possible loss to the Gov-
ernment could be provided against by a small
mintage charge.
The treatise presents a convenient plan for coin-
age and currency on the above basis, with standard
silver coins of the same weight as standard gold
coins, but takes the ground that details as to the
coin to be chosen as the gold standard, the time
when and the official by whom the declarations of
the Government ratios shall be made, and the
periods to be considered in fixing the ratio, are not
essential.
The present work shows that the author is a
bullionist and opposed to credit money, while be-
lieving that credit can attain its greatest just
development on a bullionist basis, as it does sub-
stantially in England.

NEw York, March, 1895.

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