It was not the amount of gold, absolutely, that the country was supposed capable of acquiring that thus entered into consideration, but the ability of the country to produce certain quantities of merchandise, which should, in time, be sufficient, above consumption, to balance these promises to pay.
Woodhull emphasizes that a country's productive capacity, rather than just its gold reserves, determines its financial stability.
Share
More from Victoria C. Woodhull
Verily, verily, I say unto you, this people vaunteth and puffeth itself with knowledge, but wisdom hath surely departed to the lowly ones of earth!
If they still live as spirits, if they have had better opportunities of obtaining wisdom and knowledge pertaining to earth-life than we—can this world avail itself of their assistance to establish on earth the government of heaven?
Where are all the great of the past; its orators, philosophers and statesmen; Confucius, Zoroaster, Moses, David, Solomon, Lycurgus, Demosthenes, Cicero, Bonaparte, Washington, and many others, of all nations and climes, to whom history…
Are not their minds expanded to the comprehension of the great principles of governmental justice?