It is the possibility of making a stringent market that unsettles financial matters and causes financial destruction.
Victoria C. Woodhull
The Public Record
Victoria Claflin Woodhull, later Victoria Woodhull Martin, was an American leader of the women's suffrage movement who ran for president of the United States in the 1872 election. While many historians and authors agree that Woodhull was the first woman to run for the presidency, some disagree with classifying it as a true candidacy because according to the Constitution she would have been too young to be president if elected.
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With a money of this kind, all financial crises would be impossible.
That kind of money which has elasticity, that will be plenty when business is active, and that can be readily put to other use for profit when business is less demanding, is the kind the prosperity of a country demands.
As has been said, the real standard value of a country is its capacity to produce, and it is this production that requires to be moved, exchanged, bartered or sold.
The facts regarding this question are that people have become wedded to the idea that gold is the only possible thing that can be made money, while all their practice has been that it is the least entitled to the name of money of anything…
Why should people be obliged to use one kind of circulating medium to purchase another kind with, and then use this second kind to pay his debts to another party, who will sell it again to obtain what the first person used to purchase it?
Gold cannot furnish the circulating medium for the world, and credit must be resorted to; and the necessity of having two kinds of circulation involves difficulties which the mercantile world would be glad to have forever done with.
If the credit of the country was sufficiently good to furnish it with the means to carry on such an exhaustive war as ours was, it surely should be good for any peaceful time.
This is beginning to be realized, and the realization is not satisfactory to those who produce wealth; they do not care to live under the tyranny of a god they themselves have fashioned.
Kings rule the people, but money rules kings.
Just a little more intelligence among the common people—just a few more newspapers and readers, and the work is done; those who play king, and they who are the real kings, will fall together.
The world having been so long held in financial bondage to gold, is now approaching a period wherein it will rid itself of the yoke.