Word: walkerism
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...General Walker in his lecture last evening traced the history of bimetallism from the discovery of America to the close of the eighteenth century, paying especial attention to the conditions in England. He said in part...
...General Walker now directed his attention to England at this period. Before the close of the seventeenth century her monetary literature was enriched by the writings of such men as Somers, Montague, Locke, and Newton. In 1666 and act of Charles II opened the mint to coinage of both metals gratuitously. This law continued in force till 1798. It was the policy of the government to treat gold as subsidiary to silver, and leave the guinea to find its own value in silver money...
...conclusion President Walker said that in his opinion the law, and the law alone, drove silver out. Proper mint regulations might have retained it. The assumption that England's monometallic system made her more prosperous is weak. The reason for the great prosperity of England is to be found rather in her stupendous and never-ceasing exports...
...James Walker, 1814, President of Harvard College...
Lecture. Bimetallism since the Discovery of America. III. From the American Discoveries to the Close of the 18th Century. Francis A. Walker, LL. D. Lecture Room of the Fogg Museum...