On the record
And in consequence, after nearly ten years of painful experience, they do not now understand how much they have suffered from their inconvertible currency.
Said by
Walter Bagehot
Source
gutenberg.orgAnd in consequence, after nearly ten years of painful experience, they do not now understand how much they have suffered from their inconvertible currency.
Bagehot highlights the American public's lack of understanding regarding the consequences of their currency system.
Share
More from Walter Bagehot
There is no ELASTIC element, everything is rigid, specified, dated.
They are solely concerned with his attractiveness as a candidate; they need not regard his efficiency as a ruler.
But the Jewish advantage never did so; beginning in religion, contrary to a thousand analogies, it remained religious.
The Parliament, the laws, the press were human institutions; but the Monarchy was a Divine institution.