Note 112 — Chapter III

We remember that gold, which on the 9th of August 1890 stood at 35 per cent. when a new Government came into power, had risen to 425 per cent. by May 1891, and in October of the same year touched 464 per cent.; the highest premium ever known in the long history of the double standard during the last half of the nineteenth century. In the United States during the war of secession, the premium on gold rose to 286 per cent. only (on July the 4th 1864).