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If you will show me a system which gives absolute permanence, I will take it in preference to any other. But of all conceivable systems of currency, that system is assuredly the worst which gives you a standard steadily, continuously, indefinitely appreciating, and which, by that very fact, throws a burden upon every man of enterprise, upon every man who desires to promote the agricultural or the industrial resources of the country, and benefits no human being whatever but the owner of fixed debts in gold. -Speech of the RIGHT HON. A. J. BALFOUR, at Manchester, England, October 27, 1892. From the introductory, As a manufacturer and somewhat extensive land owner I have a great personal interest in the money question. As a traveller I have studied the situation in other nations, and thus, I may modestly say, have enjoyed the great advantage of getting a view in no wise disturbed by partisan politics. As one whose prosperity depends almost entirely upon that of the farmers, I have naturally thought most of the effect monometallism has had, and will continue to have, upon them. I have, in a sense, been compelled to think much on this great issue. These facts are my apology, if any apology is needed, for giving my thoughts to the public. But is any apology needed? Providence has granted to a few the leisure and the opportunity to study these economic problems, on the correct solution of which the welfare of millions, whose toil leaves them little leisure for study, depends. Is it not the supreme moral duty of those few to give their conclusions to the public? I have always thought so, and in that spirit I present this little work, and ask the laboring producers to give a candid consideration to the views herein presented. It may be that some of these views will be successfully controverted, but the duty remains the same. If they should aid in arriving at a correct solution of the great problem, though the solution be different from that I have indicated, I shall be many times repaid for my labor. -JOHN W. BOOKWALTER.

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