with its military strength not even yet fully developed.
It had more than a million of men, nearly all veterans, in the ranks, and could have raised a million more, if necessary, without seriously interfering with the industries of the country.
Yet in four short years a false financial policy destroyed the national credit, brought its treasury to bankruptcy, and thus reduced a great people to a condition in which they could no longer make any use of their enormous military strength!
This lesson ought to be taught in every school-house in the United States
, until every child is made to understand that there is no such thing in the world as paper money; that the only real money in the world is standard gold
; that paper can be used in the place of money only when it represents the real gold
in which it can at any time be redeemed; that even gold
can be used together as standard money only under their real intrinsic values as recognized by all the world; that any attempt to force either gold
into unlimited circulation, under any arbitrary ratio different from their real ratio, is not honest; and that dishonesty is the worst of all financial policies, as well as the most unworthy of a civilized people.
The laws of finance, like the laws of military strategy, were never invented by anybody, any more than the law of gravitation or the law of electrical attraction and repulsion.
They have all been learned by the experience and study of mankind since the dawn of civilization.
All alike are parts of the great laws of nature.
They should be carefully and diligently studied and taught in all the schools, until the rising generation understand that all the affairs of mankind are governed by the uniform laws established by the great Creator and Ruler of the universe; and that self-appointed ‘leaders of the people’ who would entice them to follow their own inventions cannot save them from the penalties which naturally