Publisher's Synopsis
Excerpt from Annals of the American Academy of Political and Social Science, 1894
This was followed by that which was, at the time, considered an inexplicable and unprecedented depreciation of silver, and was generally attributed to the large production of that metal in the Nevada mines, although the relative value of silver production was at the time only about equal to that of gold, and the disproportional production of the two metals was nothing in comparison with that caused by the deluge of gold from the Californian and Australian discoveries in the period, 18 so 6o, a deluge which so long as the two metals were linked together by the French monetary law, produced scarcely any appreciable effect.
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