A very fallacious argument has been the rule, because gold has been considered “money,” that all currency is “credit;” this at first blush would seem to be still further strengthened by the proposition that gold is only merchandise.
Woodhull critiques the assumption that all currency is merely credit because gold is viewed as money, challenging prevailing economic arguments.
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It will only be considered as a means to other and higher ends.
The chief value, then, of an intimate knowledge of the past is, that from it the future may be foreseen, and that the lesson it teaches may assist in the formation of aids to the natural order of things.
Being so vastly in the majority, every office should be filled by them.
Thousands possessed of comprehensive principles in a semi state of application have sunk with them into obscurity for lack of appreciation and support.