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and pice, and (compared on the same day with) the sum of the market prices of standard test quantities of each of one hundred varieties of the most generally-dealt-in commodities of the market, also expressed in the same money terms—have by statistical observation and many hundreds of official tests, practically been found the constant equivalent, on the same market, of each other during the last five and twenty years since the system of "index numbers" was invented and applied to this branch of national business. This fact stands officially recorded. For Great Britain the Board of Trade publishes tables which prove it, and such, or their own private statistics, are regularly printed in leading commercial journals. Continental scientists also regularly publish their independent statements of these "index numbers." The truly marvelous fact above stated is thus capable of absolute verification by each one for himself, and if this does not prove silver to be the true and world-wide standard of value then there is no significance in facts. The metal gold, on the contrary, tried by the same supreme test, shows itself to be in no sense a "standard" of value, for it jumps about like the mercury in a barometer with every movement of the commercial atmosphere, its vibrations—to speak within the fact—having dodged about, up and down, as much as 20 per cent, down from a given point and then back to that point, and then 20 per cent, up from that same point, all within the short space of 40 or 50 years! How in the name of commercial sanity, how with a profession of national honesty, how with a claim to the meanest common sense, the Government of England continues to oppose the restoration of our ancient, proved, and only honest standard of value passes the wit of sane onlookers to understand.

Mayor Hopkins wanted to know what effect the adoption of the gold standard by the governments using it had, if any, on those nations using a silver or bimetallic standard. What effect, if any, it had on their prosperity?

reply was: "If a bimetallic or silver standard nation, 'or its people, are largely in debt, with the