On the record
It was the productive capacity of this country that gave value to its currency and bonds irrespective of gold.
Said by
Victoria C. Woodhull
Source
gutenberg.orgVictoria C. Woodhull: “It was the productive capacity of this country that gave value to its currency and bonds irrespective of gold.”
Editor's note · Context
This statement asserts that the value of currency and bonds is derived from a country's productive capacity, challenging traditional views on gold's necessity.
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More from Victoria C. Woodhull
That kind of money which has elasticity, that will be plenty when business is active, and that can be readily put to other use for profit when business is less demanding, is the kind the prosperity of a country demands.
It is in the people themselves, and in the fundamental principles upon which society is built, and those which the people allow government to be administered upon.
Now, what we require is a measure of values of just as fixed and absolute a character as any of these.
Every thinking person knows that no such persons or principles are in authority now, and that they have not been these many years.