Everybody knows that there never has been a currency in circulation sufficient in quantity to meet all the requirements of commerce that had a complete basis in gold, and everybody also knows that there is not gold enough in the world to meet this specific requirement.
Woodhull points out the historical inadequacy of gold-backed currency to meet commercial demands.
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And this is no more true of the pauper laborers of Europe and the slave laborers of Asia than it is of the free labor of America.
In all seasons of financial distress, gold, as a standard, has failed.
Gold is relatively valuable for the general uses it can be made to subserve; so, too, and only so, are all other products.
It is this species of corruption that is becoming a stench in the nostrils of all those whose patriotism is more than pocket deep.