On the record
It is a regulator of business rather than an active instrument for the transaction of business.
Source
gutenberg.orgEditor's note · Context
Boutwell describes gold as a regulator rather than a direct instrument in business transactions.
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More from George Boutwell
There was never in his career any ostentatious display of power, never any exercise of wanton or unnecessary authority.
This fact furnishes a pretext for efforts to make money while in the public service.
The speculative advance in gold has brought legitimate business almost to a standstill, owing to the apprehension of a corner, which from appearances may appear at any moment.
The gratitude of his countrymen rebuked all rivalries.
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