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THE CORNER IN GOLD:
ITS HISTORY AND THEORY:
BEING A REPLY
MR. ROBERT GIFFEN'S 'CASE AGAINST
Fw! BAIN, M.A.
FELLOW OF ALI. SOULS' COLLEGE, OXFORD; AUTHOR OF
THE PRINCIPLE OF WEALTH CREATION.'
"" I will notch his shaft for him, however,ʻreplied Locksley.
James Parker and Co.
Econ 4566.293.5 u
Ib. p. 43.
'If Bimetallists are sometimes reviled as lunatics, economists are surely not without excuse. Mathematicians do not stop to argue wit squarers of the circle, or with reasoners that the earth" is flat.' The Case against Bimetallism, p. 37.
‘Bimetallists have in fact made it necessary for us to go back to first principles, to begin at the beginning, with the beggarly elements of money and currency.' 16. p. 7.
• It may be of some use to recall attention to the established elementary principles of money on which the English monetary system is based, and which are the accepted creed of economists throughout the world. 16. p. 194.
'The only way to deal with Bimetallists is to refer them back to Adam Smith, and other expounders of the A B C of monetary science.' Ib. p. 207
'It is always useful to have preconceived opinions questioned, and the grounds for them examined.'
Of course, no question can be settled by authority.' Ib. p. 107.
I have studied what governments can and cannot do a good deal.' Ib. p. 52•
• In the country of Locke, of Adam Smith, of Lord Liverpool, of the Bullion Committee, of Ricardo, of Sir Robert Peel, it is surely a scandal of the first magnitude that men of light and leading in other respects should have talked seriously of any such idea as the possibility of a fixed price between gold and silver.' ib. p. 131. We, who are students of political economy.' 16. p. 117.
2Y FK 2 1932
MY DEAR MR. GIFFEN,
Permit me, an obscure but most diligent student of The Case against Bimetallism, to submit to you, as the Champion of Gold, a letter which I have had the luck to intercept, no matter how, from a friend of mine versed in these subjects. It contains, I venture to think, some aspects of the ‘Case' which have escaped your penetration. My friend Willie is a dull enough dog, but has, like his countryman, the 'creature Dougal,' 'glimmerings o' common sense ;' and you know the bonny Scots have always been thought to possess a pretty turn for finance.
As you have treated Bimetallists with such very scant courtesy, you will not, I am sure, take it ill, if Willie has here and there been betrayed by his nature, which is some. thing peppery, into a Retort Courteous : nay, as a monometallist, ought you not even to rejoice, to find yourself repaid with interest in your own coin?
With regard to Willie's correspondent, I can only say : ne sit ancillæ tibi amor pudori. He would speak all the plainer, no doubt, for having to make the young lady understand.
I am, Sir,
F. W. BAIN.