Excerpt from The Monetary Question in 1892
In the present state of the Monetary Question, when really all parties have been heard, and all the pros and cons of the case submitted to endless discussions on both sides, the value of a new book on the subject may appear doubtful indeed. Nor is it my intention in the least to revive the "battle of standards," which, besides, for me has been lost entirely for silver, since the time the United States have signally failed to contribute to any extent to the rehabilitation of the white metal, while these enormous purchases have even not prevented a further depreciation unheard of in the monetary history of our times. From that moment all my attention has been turned to gold, which under the circumstances can alone in future form the metal for good and honest money.
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