Note 4 — Chapter VI · Gold, and How they Came to Use It.

“And when the substitution is made” (of a silver for a paper fractional currency), “what will be the consequence? The metal currency will have to be considerably debased, or else every old woman in the country will fill her stockings with it and bury it. It will be hoarded, sir; hoarded to the extent of removing millions from the currency of the country.” The general paused, glared at a village wrapped in rain, by which we were rattling, chewed his cigar vigorously, and lapsed into silence.—A Newspaper Reporter’s Interview with General Butler, September, 1875.