this is how empire dies, it is always a confluence of crisis happening together. it only appears random and illogical because thus is the nature of entropy > such has, to a greater or less degree, always been the result of irredeemable paper, created according to the whim or interest of legislative assemblies rather than based upon standards of value permanent in their nature and agreed upon throughout the entire world.   > such, we may fairly expect, will always be the result of them until the fiat of the almighty shall evolve laws in the universe radically different from those which at present obtain.  > and, finally, as to the general development of the theory and practice which all this history records: my subject has been fiat money in france; how it came; what it brought; and how it ended. > it came by seeking a remedy for a comparatively small evil in an evil infinitely more dangerous. to cure a disease temporary in its character, a corrosive poison was administered, which ate out the vitals of french prosperity. > it progressed according to a law in social physics which we may call the "law of accelerating issue and depreciation." it was comparatively easy to refrain from the first issue; it was exceedingly difficult to refrain from the second; to refrain from the third and those following was practically impossible. > it brought, as we have seen, commerce and manufactures, the mercantile interest, the agricultural interest, to ruin. it brought on these the same destruction which would come to a hollander opening the dykes of the sea to irrigate his garden in a dry summer. > it ended in the complete financial, moral and political prostration of france-a prostration from which only a napoleon could raise it. it happened before, its happening now, and it will unfortunately happen again. the money is the key.
Canada