TAILIEUCHUNG - THE PAPER MONEYS OF EUROPE THEIR MORAL AND ECONOMIC SIGNIFICANCE

This series will contain essays by representative scholars and men of affairs dealing with the various phases of the moral law in its bearing on business life under the new .economic order, first delivered at the University of California on the Weinstock foundation. THE PAPER MONEYS OF EUROPE THEIR MORAL AND ECONOMIC SIGNIFICANCE No more severe reflection could be passed upon the moral and political capacity of the human species than this: Five thousand years after the invention of writing, three thousand after the invention of money, and (nearly) five hundred since the invention of printing, governments all over the. | THE PAPER MONEYS OF EUROPE THEIR MORAL AND ECONOMIC SIGNIFICANCE By FRANCIS W. HIRST BOSTON AND NEW YORK HOUGHTON MIFFLIN COMPANY The Riverside Press Cambridge 1922 COPYRIGHT 1922 BY THE REGENTS OF THE UNIVERSITY OF CALIFORNIA ALL RIGHTS RESERVED The Riverside Press CAMBRIDGE MASSACHUSETTS PRINTED IN THE . BARBARA WEINSTOCK LECTURES ON THE MORALS OF TRADE This series will contain essays by representative scholars and men of affairs dealing with the various phases of the moral law in its bearing on business life under the new economic order first delivered at the University of California on the Weinstock foundation. THE PAPER MONEYS OF EUROPE THEIR MORAL AND ECONOMIC SIGNIFICANCE No more severe reflection could be passed upon the moral and political capacity of the human species than this Five thousand years after the invention of writing three thousand after the invention of money and nearly five hundred since the invention of printing governments all over the world are employing the third invention for the purpose of debasing the second thereby robbing millions of innocent individuals of their property on a scale so extensive that previous public confiscations of private property through the adulteration of money in ancient Rome in Ireland under James the Second in Prussia during the Seven Years War in the American colonies and the United States in Portugal in Greece in various republics of Central and South America even the assignats of the French Revolution seem pigmy frauds in comparison with the present vast inundation of counterfeit paper money. In these times when so much attention is given to what I may call the prehistoric history of mankind it would ill become me a mere adventurer in anthropology to discuss the origin of money or to attempt an explanation of the curious fact that the art of coining money was invented and perfected a thousand years before the art of printing. The coins struck by the best cities of ancient Greece are a model and a .

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