People's Pilot, Volume 3, Number 33, Rensselaer, Jasper County, 2 February 1894 — The Precious Metals. [ARTICLE]

The Precious Metals.

Dr. Adam Smith informs us that in 1455 the price of wheat in England was less than two pence per bushel. Alison ascribes as the ciuse of the gloom settled down over the world during this period the exhausting of the ancient mines of the precious metals. The renovation of civilization commenced with the inflow of the precious metals from the new world, into the money stock of the old world.