Word: laughlins
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...change is necessary. (a) The present National Banking system is the best possible. (1) It is uniform. J. J. Knox, in Forum, Feb. 1892. (2) As record shows, it is absolutely safe. J. L. Laughlin, in Chatauqua, Oct. 1892; E. E. Lacey, in N. A. Review, Feb. 1892; Comptroller of Currency, Report for 1875, p. 270 ff. (b) Ampler currency will not help the South and West.. Dunbar, Q. J. E., Oct. 1892. (c) The National Banking system can meet all legitimate demands for more currency. D. M. Stone, in Forum...
Best general references: F. W. Taussig, The Silver Situation in the U. S., part II. Robert Giffen, The Case Against Bimetallism. J. L. Laughlin, Quarterly Journal of Economics...
...monetary standard should be international. (a) Expanding international trade. Laughlin, Q. J. E., Vol. I, p. 367. (b) Monetary Conferences, '67, '78, '81, '92, Chicago Tribune...
...gold supply is amply sufficient. (a) The output is not declining. Taussig, Pop. Sci. Mo., Sept. '93, p. 582. (b) The use of credit is increasing. Laughlin, Q. J. E., Vol. I, pp. 325-326. (c) Debtors are not burdened. Goschen, Q. J. E., V. I, pp. 329-337. (d) Money wages are rising though prices are falling. Taussig, Silver Situation...
...alternatives are impracticable. (a) The single silver standard is admittedly bad. (b) The multiple standard is difficult of attainment. Taussig, Silver Situation, p. 125. (c) Under national bimetallism the nation cannot be maintained. Laughlin, Hist. of Bimetallism, pp. 5-9. (d) International bimetallism is bad, because (1) Agreement cannot be reached. (2) If made, the agreement could not be maintained. R. Giffen, Pol. Sci. Qu., Sept. '93, p. 412. (3) If made and maintained, prices would rise, and injustice would be done to creditors...