Excerpt from On the Probable Fall in the Value of Gold: The Commercial and Social Consequences Which May Ensue, and the Measures Which It Invites
The substance of the work, of which the following pages are a translation, appeared originally in the Revue des deux Mondes, in the autumn of 1857, and was afterwards reprinted in a pamphlet form. The author has since rewritten and enlarged it to double the original size. The present translation will appear simultaneously with the French edition.
The question of the probable fall in the value of gold, and the consequent rise in that of all other commodities, wherever gold is the standard of value, has not hitherto attracted so much attention in this country as it has in France, or as its great importance would seem to demand. In introducing the Bank Act of 1844, Sir Robert Peel said: - "There is no contract, public or private, no engagement, national or individual, which is unaffected by it.
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