Wednesday, July 30, 2014

Nothing has changed in over two hundred years

Just substitute "dollar" for "assignats".  Nothing has changed.

"Assignats.  Is a fleet to be fitted out?  Assignats.  If sixteen millions sterling of these assignats forced on the people leave the wants of the state as urgent as ever, Issue, says one, thirty millions sterling of assignats--says another, Issue fourscore millions more of assignats.  The only difference among their financial factions is on the greater or the lesser quantity of assignats to be imposed on the public sufferance.  They are all professors of assignats.  Even those whose natural good sense and knowledge of commerce, not obliterated by philosophy, furnish decisive arguments against this delusion, conclude their arguments by proposing the emission of assignats.  I suppose they must talk of assignats, as no other language would be understood.  All experience of their inefficacy does not in the least discourage them. Are the old assignats depreciated at market?  What is the remedy?  Issue newassignats.  The word is a trifle altered.  The Latin of your present doctors may be better than that of your old comedy; their wisdom and the variety of their resources are the same.  They have not more notes in their song than the cuckoo; though, far from the softness of that harbinger of summer and plenty, their voice is as harsh and as ominous as that of the raven."

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