The Feilding Star. TUESDAY, OCTOBER 4, 1892.
Some weeks ago we wrote an article in which we advocated the principle that silver should be allowed to find its natural level either by flowing into new channels of manufacturing industries, or by returning to those it had been diverted from by false value created through its coinage into money. Since then the following paragraph has come under our notice ', "Mr George Anderson, deputy-master of the Mint, Melbourne, estimates that on the annual coinage of £50,000 worth of silver there would be a profit of £21,000." This profit is not a legitimate one, and reminds us of the famous or rather infamous incident denounced by Dean Swift in his 1 Drapier Letters' in the reign of King George the First, when the Government authorized a Wolverhampton ironmaster named William Wood to make £80,000 worth of copper money for Ireland. Swift denounced the contract as a robbery of Ireland by exchange of nominal for substantial yalues. Of course the Government were angry and threatened all sorts of pains and penalties, but Swift triumphed and " Wood's halfpence " were recalled. The cases are parallel.
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Bibliographic details
Feilding Star, Volume XIV, Issue 46, 4 October 1892, Page 2
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189The Feilding Star. TUESDAY, OCTOBER 4, 1892. Feilding Star, Volume XIV, Issue 46, 4 October 1892, Page 2
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