Excerpt from Gold and Prices Since 1873 Frewen, Nineteenth Century, October, 1885, p. 595, carries the error still further by claiming that prices change with the production of gold. One can not weigu much weight to Mr. Frewen, when he declares that capital is spent rather than accumulated in the United States, because of the heavy taxation 1 (p. Dr. Soetbeer, Materialien, p. 81, reminds us that both Huskisson and Jacob attributed the depression which prevailed in Europe after 1815 to a scarcity of the precious metals. He also mentions an interesting book by J. Helferich, published in 1843, which combated the Quantitats-theorie, and explained that credit can separate the function of a medium of exchange from that of a measure of value, and can serve as the former without affecting the latter. Most German bimetallists (excepting Dr. Arendt) agree with Messrs. Gifien and Goschen in attributing the fall in prices and the depression of trade to the scarcity of gold. But, on the other hand, Bourne, Journal of Statistical Society, June, 1879, p. 417, who denies the scarcity of gold, claims, with Mul hall, that the quantity of gold has no relation to prices. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.