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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Neocon who wrote (26109)	7/27/2000 10:58:04 PM
From: nihil	Read Replies (3) \| Respond to of 769670

Wrongo! Free coinage of silver was a way to correct the deflation that had been caused by the return to the gold standard which had cheated borrowers of value in favor of the banks and other userers. From the end of the Civil War to 1900, the estimated CPI fell from 44 to 25. Any one in debt (like most of the homesteaders and other farmers) got screwed out of 40 per cent of their wealth. In addition, farm prices fell. Free coinage of silver without limits would have helped undercut the gold standard and restore prosperity to America. The healthy inflation of 1893 to 1913, caused by new discoveries and paper finance, was the most prosperous period of American agriculture. With the return to tight money in the 20's, we were set up for the Great Depression. The wide spread inflation since WWII, of course, has permitted us to grow to our most prosperous level ever. But with increasing knowledge of economic control, it is perhaps no longer necessary to promote inflation as a cure for poverty.