First I said: "There can be but one standard of value in any country at the same time, and a successful use of gold and silver simultaneously can be effected only by their consolidation upon an agreed ratio of value, and by the concurrence of the commercial nations of the world.
Boutwell emphasizes the importance of having a single standard of value in a country, advocating for a unified approach to gold and silver.
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In truth, gold plays a small part only in actual business.
If others depart from this rule in their dealings with us, we may be compelled to follow their precedent.
The gratitude of his countrymen rebuked all rivalries.
On the other hand, I claimed that all thought of the further use of silver should be postponed until the attempt to secure the co-operation of other countries had been tried faithfully.
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