Another step which exercised a decided influence over me was joining the "Webster Literary Society" along with my companions, the trusty five already named. We formed a select circle and stuck closely together. This was…
Another step which exercised a decided influence over me was joining the "Webster Literary Society" along with my companions, the trusty five already named. We formed a select circle and stuck closely together. This was…
A paper currency which falls below the value of gold and silver coin, does not thereby sink the value of those metals, or occasion equal quantities of them to exchange for a smaller quantity of goods of any other kind. The proportion between the value of gold and silver and that of goods of any other kind, depends in all cases, not upon the nature and quantity of any particular paper money, which may be current in any particular country, but upon the richness or poverty of the mines, which happen at any particular time to supply the great market of the commercial world with those metals. It depends upon the proportion between the quantity of labour which is necessary in order to bring a certain quantity of gold and silver to market, and that which is necessary in order to bring thither a certain quantity of any other sort of goods.
Another step which exercised a decided influence over me was joining the "Webster Literary Society" along with my companions, the trusty five already named. We formed a select circle and stuck closely together. This was…
In reading the newspapers, where so much is taken for granted in considering things on a money standard, I think we need some of the sense of humour possessed by an Irish neighbour of mine, who built what we regarded as…
In like manner the demand for locomotives was very great, and with Mr. Thomas N. Miller[24] I organized in 1866 the Pittsburgh Locomotive Works, which has been a prosperous and creditable concern--locomotives made there having obtained an enviable reputation throughout the United States. It sounds like a fairy tale to-day to record that in 1906 the one-hundred-dollar shares of this company sold for three thousand dollars--that is, thirty dollars for one. Large annual dividends had been paid regularly and the company had been very successful--sufficient proof of the policy: "Make nothing but the very best." We never did.