PREFACE

I earnestly invite the most serious attention, with unbiased mind, of every one especially rulers, statesmen, legislators, and economists — to this analysis of the world’s prices and foreign
and colonial exchanges of intermediaries; and to the simple arithmetical demonstration to travellers, traders, and financiers of their effects upon the interchanges of things between man and man and community and community.

Sound bases for the construction of monetary systems cannot be expected from those who are totally ignorant of the knowledge possessed both theoretically and practically by the magnates of the money power of the world. Striking evidence of this can be seen in the first 8393 questions put to and answered by twenty-five examinees, of whom ten were either past or present servants of the State, nine were traders and producers, and six were financiers and bankers, before the India Office Committee upon schemes for providing an effective metal monetary system for British India.

Lord Rothschild’s evidence, under 133 interrogatories before this Committee, of what financiers have done and can do, of what Governments can and cannot do, and what British India’s trade could possibly do or not do, with the absolute requisite of what it must do to provide and keep an effective gold standard, are a few scientific truths among the evidence given under the remaining 8260 questions in the first blue book of 319 pages.

I repeat the suggestion with which I closed my pamphlet upon “British India’s Future Standard Currency ” : — ” Whether it is not a pressing need on every one who has the mind for it, especially statesmen and legislators, to do their utmost to probe to the bottom and discover a sound foundation for the world’s interchanges of things, and a corrective to the injustice arising from the machinery at present in use ? “

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