the exchanges, with probably progressive deterioration in the values of foreign currencies vis-a vis-the dollar; it would prove an incentive to all those who were advancing novel ideas for nostrums and expedients other than the gold standard to sell their wares; and incentives to governments at times to undertake various types of paper money expedients and inflation; it might indeed result in the United States draining the world of gold.” It could but end, they believed, “with a terrible period of “hardship, and suffering, and . . . social and political disorder,” culminating in some kind of
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