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Book-learning And Inflation

Book-learning And Inflation image
Parent Issue
Day
23
Month
January
Year
1874
Copyright
Public Domain
OCR Text

From the N. Y. Herald. Whon Senator Morton decrics " bookloarning" in politieal economy heovidently doos so becauso the aooumulated experionce of all nations fails to strengthen his own position in favor oí' inflatiou. Inflation is the panacea of demagoguos for Gvcry financial ill. Not having.auy booklearning upon quostions of the highest importanoe, the mere pohtioian endoavors to tide over every epoch of hard timos by printing promisus tu pay and oalling them money. When labor is scarce and business prostrate, it is, in his eyes, owiug to a stnngency in the monoy market which oan be readily cured by the issue of moro irredeemable curroncy. The experiment has been tried in this country so of ten in the last few years that we are rapidly rushing upon dostruction, and unless Senator Morton and othora like hiin get a little book-lerning, or show sonie common sense in ünancial legislation, the most disastrous consequeneos will ensue. The country cannot endure any further inflation of its irredeemable currency, and sneers at book-learning are a poor substituto for wise statesmanship.

Article

Subjects
Old News
Michigan Argus