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rew propeller, the iron and steel vessels, and the thousands of articles from the factory which form an important part of the cargoes which they carry—all these are the inventions of the century, and all have contributed greatly to the producing and transporting power of man, and consequently to the multiplication of the commodities which he produces and exchanges.
Finance and financiers have contributed enormously to the growth of the commerce of the century.
The gold discoveries in California and Australia, and later in other parts of the world, have greatly increased the volume of the circulating medium and encouraged the creation of a single and well-defined standard of value, so that the merchant may make his sales and purchases with an assurance that payments will be made in a measure of value acceptable to the whole world, and losses and uncertainty of traffic thus avoided.
The supply of this precious metal has increased enormously during the century.